Kayne Anderson Capital Advisors LP Buys 5,951 Shares of First Solar, Inc. $FSLR

Kayne Anderson Capital Advisors LP raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 15.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 45,031 shares of the solar cell manufacturer’s stock after purchasing an additional 5,951 shares during the quarter. First Solar accounts for about 0.2% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 29th largest position. Kayne Anderson Capital Advisors LP’s holdings in First Solar were worth $7,454,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of FSLR. Nuveen LLC bought a new position in First Solar during the first quarter valued at $114,730,000. Canada Pension Plan Investment Board lifted its position in First Solar by 16,857.8% during the first quarter. Canada Pension Plan Investment Board now owns 759,033 shares of the solar cell manufacturer’s stock valued at $95,965,000 after purchasing an additional 754,557 shares during the last quarter. Invesco Ltd. lifted its position in First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after purchasing an additional 592,444 shares during the last quarter. Jones Financial Companies Lllp lifted its position in First Solar by 22,107.8% during the first quarter. Jones Financial Companies Lllp now owns 512,556 shares of the solar cell manufacturer’s stock valued at $64,802,000 after purchasing an additional 510,248 shares during the last quarter. Finally, Hill City Capital LP lifted its position in First Solar by 59.4% during the first quarter. Hill City Capital LP now owns 1,355,000 shares of the solar cell manufacturer’s stock valued at $171,313,000 after purchasing an additional 505,000 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 23,912 shares of the firm’s stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $185.47, for a total transaction of $4,434,958.64. Following the completion of the transaction, the chief executive officer directly owned 87,978 shares of the company’s stock, valued at approximately $16,317,279.66. This trade represents a 21.37% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 SEC filing for this sale provides additional information. Insiders have sold a total of 30,715 shares of company stock valued at $5,733,305 over the last three months. 0.48% of the stock is currently owned by insiders.

First Solar Stock Up 5.6%

FSLR stock opened at $277.39 on Thursday. The firm has a 50 day moving average of $223.57 and a 200 day moving average of $186.34. The stock has a market capitalization of $29.77 billion, a PE ratio of 23.73, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The company has a quick ratio of 1.41, a current ratio of 1.90 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $281.55.

First Solar (NASDAQ:FSLR) last released its earnings results 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). The company had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. First Solar had a return on equity of 15.57% and a net margin of 28.95%.The firm’s revenue for the quarter was up 79.7% on a year-over-year basis. During the same quarter last year, the business earned $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Barclays reissued an “overweight” rating and issued a $279.00 target price on shares of First Solar in a research note on Monday. Needham & Company LLC assumed coverage on shares of First Solar in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 target price on the stock. UBS Group increased their target price on shares of First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a research note on Monday. Glj Research raised their price target on shares of First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Jefferies Financial Group set a $269.00 price target on shares of First Solar and gave the stock a “buy” rating in a research note on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.09.

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.