First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Allworth Financial LP

Posted by Defense World Staff on Oct 5th, 2023

Allworth Financial LP lifted its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 35.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 409 shares of the solar cell manufacturer’s stock after purchasing an additional 108 shares during the quarter. Allworth Financial LP’s holdings in First Solar were worth $78,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of FSLR. BlackRock Inc. raised its position in First Solar by 2.3% during the first quarter. BlackRock Inc. now owns 13,656,540 shares of the solar cell manufacturer’s stock valued at $2,970,297,000 after acquiring an additional 308,610 shares in the last quarter. Vanguard Group Inc. raised its position in First Solar by 0.7% during the first quarter. Vanguard Group Inc. now owns 9,171,019 shares of the solar cell manufacturer’s stock valued at $767,981,000 after acquiring an additional 68,131 shares in the last quarter. FMR LLC raised its position in First Solar by 77.9% during the first quarter. FMR LLC now owns 4,786,315 shares of the solar cell manufacturer’s stock valued at $1,041,024,000 after acquiring an additional 2,096,612 shares in the last quarter. State Street Corp raised its position in First Solar by 4.4% during the first quarter. State Street Corp now owns 4,266,552 shares of the solar cell manufacturer’s stock valued at $927,972,000 after acquiring an additional 179,035 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in First Solar by 2.6% during the first quarter. Geode Capital Management LLC now owns 2,236,723 shares of the solar cell manufacturer’s stock valued at $485,528,000 after acquiring an additional 56,383 shares in the last quarter. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FSLR. BMO Capital Markets lifted their price target on First Solar from $235.00 to $237.00 and gave the company an “outperform” rating in a research report on Monday, September 11th. Roth Capital restated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a research report on Friday, September 8th. Deutsche Bank Aktiengesellschaft upgraded First Solar from a “hold” rating to a “buy” rating and boosted their price objective for the company from $220.00 to $235.00 in a research report on Friday, September 8th. Morgan Stanley boosted their price objective on First Solar from $206.00 to $226.00 and gave the company an “equal weight” rating in a research report on Friday, September 22nd. Finally, Oppenheimer boosted their price objective on First Solar from $262.00 to $268.00 and gave the company an “outperform” rating in a research report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.62.

Get Our Latest Analysis on First Solar

First Solar Stock Up 0.4 %

NASDAQ:FSLR opened at $151.82 on Thursday. The company has a quick ratio of 2.66, a current ratio of 3.36 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average is $181.75 and its two-hundred day moving average is $192.83. First Solar, Inc. has a 52 week low of $115.66 and a 52 week high of $232.00. The stock has a market capitalization of $16.22 billion, a price-to-earnings ratio of 103.99 and a beta of 1.42.

First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $1.85 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.90. First Solar had a return on equity of 3.13% and a net margin of 5.23%. The company had revenue of $810.67 million for the quarter, compared to analysts’ expectations of $720.43 million. Research analysts anticipate that First Solar, Inc. will post 7.91 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, CFO Alexander R. Bradley sold 5,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $158.23, for a total transaction of $791,150.00. Following the transaction, the chief financial officer now directly owns 30,419 shares in the company, valued at $4,813,198.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alexander R. Bradley sold 5,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $158.23, for a total transaction of $791,150.00. Following the sale, the chief financial officer now owns 30,419 shares of the company’s stock, valued at $4,813,198.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 2,160 shares of the company’s stock in a transaction on Friday, July 28th. The stock was sold at an average price of $223.41, for a total value of $482,565.60. Following the sale, the chief executive officer now directly owns 81,861 shares in the company, valued at approximately $18,288,566.01. The disclosure for this sale can be found here. Insiders have sold 39,452 shares of company stock worth $7,624,484 over the last ninety days. Corporate insiders own 0.58% of the company’s stock.

First Solar Company Profile

(Free Report)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.