Voya Investment Management LLC Acquires 46,598 Shares of First Solar, Inc. $FSLR

Voya Investment Management LLC raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 27.2% during the third quarter, HoldingsChannel reports. The firm owned 217,618 shares of the solar cell manufacturer’s stock after acquiring an additional 46,598 shares during the quarter. Voya Investment Management LLC’s holdings in First Solar were worth $47,991,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its position in shares of First Solar by 126.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock worth $25,000 after buying an additional 85 shares during the last quarter. Strategic Wealth Investment Group LLC acquired a new position in First Solar during the second quarter worth about $26,000. Harbor Investment Advisory LLC lifted its holdings in shares of First Solar by 138.9% in the second quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer’s stock worth $28,000 after acquiring an additional 100 shares during the last quarter. Hantz Financial Services Inc. boosted its stake in shares of First Solar by 69.4% in the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after purchasing an additional 75 shares in the last quarter. Finally, Wealth Preservation Advisors LLC acquired a new stake in shares of First Solar in the 1st quarter valued at approximately $25,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insiders Place Their Bets

In other news, Director Paul H. Stebbins sold 7,000 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $262.40, for a total value of $1,836,800.00. Following the transaction, the director owned 15,287 shares in the company, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their position. 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 company’s stock in a transaction on Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the completion of the sale, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is currently owned by insiders.

First Solar Stock Up 2.0%

Shares of FSLR opened at $266.98 on Friday. The stock’s 50-day moving average price is $253.75 and its two-hundred day moving average price is $211.11. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $281.55. The company has a market capitalization of $28.65 billion, a PE ratio of 20.51, a PEG ratio of 0.52 and a beta of 1.59. 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 issued its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The company had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.First Solar’s revenue was up 79.7% compared to the same quarter last year. 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. On average, analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on FSLR. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a research note on Monday, December 15th. Jefferies Financial Group set a $269.00 price target on shares of First Solar and gave the stock a “buy” rating in a report on Friday, October 31st. JPMorgan Chase & Co. raised their price objective on First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Barclays restated an “overweight” rating and set a $279.00 price objective on shares of First Solar in a research report on Monday, November 3rd. Finally, TD Cowen lifted their price target on First Solar from $240.00 to $260.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Two analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $271.27.

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.