Vectors Research Management LLC Buys 2,146 Shares of First Solar, Inc. $FSLR

Vectors Research Management LLC increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 15.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 16,075 shares of the solar cell manufacturer’s stock after purchasing an additional 2,146 shares during the period. First Solar makes up 1.1% of Vectors Research Management LLC’s holdings, making the stock its 24th biggest holding. Vectors Research Management LLC’s holdings in First Solar were worth $3,545,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in First Solar by 0.4% during the second quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock worth $2,194,704,000 after buying an additional 57,507 shares in the last quarter. State Street Corp lifted its holdings in shares of First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after acquiring an additional 111,927 shares during the period. Geode Capital Management LLC lifted its holdings in shares of First Solar by 0.9% during the 2nd quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares during the period. Viking Global Investors LP boosted its position in shares of First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Finally, Schroder Investment Management Group increased its stake in First Solar by 3.7% in the second quarter. Schroder Investment Management Group now owns 1,350,084 shares of the solar cell manufacturer’s stock valued at $223,493,000 after acquiring an additional 47,646 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Up 0.0%

NASDAQ:FSLR opened at $243.73 on Friday. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The company has a market cap of $26.15 billion, a PE ratio of 18.72, a P/E/G ratio of 0.30 and a beta of 1.60. The firm’s 50 day simple moving average is $259.32 and its 200 day simple moving average is $224.70.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.32 by ($0.08). The business had revenue of $1.59 billion during the quarter, compared to analyst estimates of $1.56 billion. First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company’s revenue was up 79.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.91 earnings per share. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. On average, research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Georges Antoun sold 37,412 shares of the stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the completion of the sale, the insider owned 15,424 shares of the company’s stock, valued at approximately $4,087,514.24. This represents a 70.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was 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 of the company’s stock, valued at $4,011,308.80. This trade represents a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,912 shares of company stock valued at $12,971,349 in the last three months. Insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $316.00 target price on shares of First Solar in a report on Friday, October 31st. Wolfe Research raised their price objective on First Solar from $232.00 to $247.00 in a research note on Friday, October 31st. Roth Capital set a $300.00 target price on First Solar in a research report on Friday, October 31st. Royal Bank Of Canada boosted their target price on First Solar from $201.00 to $244.00 and gave the stock an “outperform” rating in a research note on Monday, October 20th. Finally, Cowen restated a “buy” rating on shares of First Solar in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $276.84.

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.