Prime Capital Investment Advisors LLC Has $3.03 Million Stock Position in First Solar, Inc. $FSLR

Prime Capital Investment Advisors LLC boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 218.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,278 shares of the solar cell manufacturer’s stock after purchasing an additional 12,544 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in First Solar were worth $3,026,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cetera Investment Advisers grew its holdings in First Solar by 10.9% during the first quarter. Cetera Investment Advisers now owns 25,437 shares of the solar cell manufacturer’s stock worth $3,216,000 after buying an additional 2,510 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in shares of First Solar by 396.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer’s stock valued at $1,489,000 after buying an additional 9,405 shares during the last quarter. Asset Management One Co. Ltd. lifted its position in shares of First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer’s stock valued at $6,160,000 after buying an additional 3,226 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer’s stock worth $23,936,000 after purchasing an additional 23,528 shares in the last quarter. Finally, Oakworth Capital Inc. lifted its holdings in First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer’s stock worth $1,224,000 after purchasing an additional 1,916 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Mark R. Widmar sold 2,321 shares of the company’s stock in a transaction on Friday, August 15th. The stock was sold at an average price of $199.44, for a total transaction of $462,900.24. Following the completion of the sale, the chief executive officer owned 81,861 shares in the company, valued at approximately $16,326,357.84. This represents a 2.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $182.03, for a total value of $124,872.58. The disclosure for this sale can be found here. In the last quarter, insiders have sold 30,715 shares of company stock valued at $5,733,305. 0.48% of the stock is owned by company insiders.

First Solar Stock Down 0.7%

FSLR stock opened at $227.89 on Wednesday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $235.87. The business has a fifty day moving average price of $203.02 and a 200-day moving average price of $169.53. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.90 and a quick ratio of 1.41. The stock has a market capitalization of $24.44 billion, a P/E ratio of 19.49, a P/E/G ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.68 by $0.50. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $3.25 earnings per share. The company’s revenue was up 8.6% on a year-over-year basis. First Solar has set its FY 2025 guidance at 13.500-16.500 EPS. Equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of research analyst reports. Guggenheim upped their target price on First Solar from $202.00 to $287.00 and gave the stock a “buy” rating in a research note on Friday, August 22nd. Weiss Ratings restated a “hold (c)” rating on shares of First Solar in a report on Saturday, September 27th. Susquehanna increased their price objective on First Solar from $203.00 to $222.00 and gave the stock a “positive” rating in a report on Friday, August 1st. Deutsche Bank Aktiengesellschaft increased their price objective on First Solar from $225.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. Finally, Jefferies Financial Group lifted their price target on First Solar from $212.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $229.52.

First Solar Company 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.