Voya Investment Management LLC Reduces Stake in First Solar, Inc. $FSLR

Voya Investment Management LLC decreased its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 59.1% during the first quarter, HoldingsChannel.com reports. The firm owned 512,652 shares of the solar cell manufacturer’s stock after selling 739,339 shares during the period. Voya Investment Management LLC’s holdings in First Solar were worth $64,815,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of FSLR. Garde Capital Inc. purchased a new stake in shares of First Solar in the 1st quarter valued at about $25,000. Wealth Preservation Advisors LLC purchased a new stake in shares of First Solar in the 1st quarter valued at about $25,000. Larson Financial Group LLC raised its holdings in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Colonial Trust Advisors purchased a new stake in shares of First Solar in the 1st quarter valued at about $32,000. Finally, Abound Financial LLC purchased a new stake in shares of First Solar in the 1st quarter valued at about $45,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $201.70 on Friday. The stock has a market cap of $21.63 billion, a price-to-earnings ratio of 17.25, a P/E/G ratio of 0.40 and a beta of 1.41. The company has a current ratio of 1.90, a quick ratio of 1.41 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The stock’s 50-day moving average is $187.50 and its 200 day moving average is $159.30.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period last year, the firm posted $3.25 EPS. First Solar’s revenue for the quarter was up 8.6% compared to the same quarter last year. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Nathan B. Theurer sold 686 shares of the firm’s stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total transaction of $124,872.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,600 shares of the firm’s stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. The trade was a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,315 shares of company stock worth $6,021,305 in the last ninety days. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on FSLR. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Friday, August 1st. BMO Capital Markets raised their price target on First Solar from $194.00 to $203.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Bank of America raised their price target on First Solar from $185.00 to $201.00 and gave the company a “buy” rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. raised their price target on First Solar from $200.00 to $208.00 and gave the company an “overweight” rating in a report on Tuesday, July 22nd. Finally, Mizuho raised their price objective on First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a report on Monday, July 14th. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $225.84.

First Solar Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.