Intact Investment Management Inc. Acquires Shares of 5,780 First Solar, Inc. $FSLR

Intact Investment Management Inc. bought a new stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 5,780 shares of the solar cell manufacturer’s stock, valued at approximately $1,275,000.

A number of other institutional investors also recently modified their holdings of FSLR. Woodline Partners LP boosted its stake in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after buying an additional 2,615 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in shares of First Solar by 23.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 9,442 shares of the solar cell manufacturer’s stock valued at $1,563,000 after purchasing an additional 1,765 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in shares of First Solar by 410.9% in the 2nd quarter. Farther Finance Advisors LLC now owns 2,069 shares of the solar cell manufacturer’s stock valued at $343,000 after purchasing an additional 1,664 shares in the last quarter. Fifth Third Bancorp increased its position in First Solar by 67.5% during the 2nd quarter. Fifth Third Bancorp now owns 4,667 shares of the solar cell manufacturer’s stock worth $773,000 after purchasing an additional 1,881 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its stake in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing an additional 85 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total transaction of $1,219,995.00. Following the completion of the transaction, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares in the company, valued at approximately $4,087,514.24. The trade was a 70.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,912 shares of company stock valued at $12,971,349 in the last three months. Company insiders own 0.48% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FSLR. Wall Street Zen raised shares of First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Morgan Stanley set a $275.00 target price on First Solar in a report on Friday, October 31st. Robert W. Baird lifted their price target on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. TD Cowen upped their price objective on First Solar from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Royal Bank Of Canada raised their price objective on shares of First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a report on Tuesday, January 20th. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.76.

First Solar Stock Performance

Shares of FSLR opened at $242.97 on Tuesday. The stock has a 50 day moving average of $257.05 and a 200 day moving average of $228.40. The company has a market capitalization of $26.07 billion, a price-to-earnings ratio of 18.66, a PEG ratio of 0.31 and a beta of 1.60. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $285.99. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). The business had revenue of $1.59 billion for the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.