Amalgamated Bank Sells 485 Shares of First Solar, Inc. $FSLR

Amalgamated Bank trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,402 shares of the solar cell manufacturer’s stock after selling 485 shares during the quarter. Amalgamated Bank’s holdings in First Solar were worth $3,377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in FSLR. Teacher Retirement System of Texas bought a new position in shares of First Solar during the first quarter worth about $1,880,000. Mutual Advisors LLC raised its position in shares of First Solar by 27.9% during the first quarter. Mutual Advisors LLC now owns 1,871 shares of the solar cell manufacturer’s stock worth $237,000 after acquiring an additional 408 shares during the last quarter. IFM Investors Pty Ltd raised its position in shares of First Solar by 6.9% during the first quarter. IFM Investors Pty Ltd now owns 22,496 shares of the solar cell manufacturer’s stock worth $2,844,000 after acquiring an additional 1,453 shares during the last quarter. Abound Financial LLC bought a new position in shares of First Solar during the first quarter worth about $45,000. Finally, Hourglass Capital LLC bought a new position in shares of First Solar during the first quarter worth about $942,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 0.5%

Shares of First Solar stock opened at $265.70 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $275.08. The stock has a 50 day moving average price of $220.53 and a two-hundred day moving average price of $184.75. The stock has a market capitalization of $28.50 billion, a PE ratio of 22.73, a price-to-earnings-growth ratio of 0.46 and a beta of 1.38.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a net margin of 28.95% and a return on equity of 15.57%. The firm had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. During the same period last year, the business posted $2.91 EPS. The company’s revenue was up 79.7% on a year-over-year basis. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CEO Mark R. Widmar sold 23,912 shares of First Solar stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the transaction, the chief executive officer owned 87,978 shares of the company’s stock, valued at $16,317,279.66. The trade was a 21.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Nathan B. Theurer sold 686 shares of the business’s stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $182.03, for a total value of $124,872.58. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 30,715 shares of company stock worth $5,733,305. 0.48% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a report on Friday. TD Cowen lifted their target price on First Solar from $240.00 to $260.00 and gave the stock a “buy” rating in a report on Friday. Wolfe Research lifted their target price on First Solar from $232.00 to $247.00 in a report on Friday. Needham & Company LLC assumed coverage on First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price for the company. Finally, Citigroup lifted their target price on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $266.23.

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.