TrueWealth Advisors LLC Invests $896,000 in First Solar, Inc. $FSLR

TrueWealth Advisors LLC purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 4,065 shares of the solar cell manufacturer’s stock, valued at approximately $896,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in First Solar in the 2nd quarter valued at about $212,621,000. Viking Global Investors LP boosted its holdings in shares of First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Canada Pension Plan Investment Board increased its stake in shares of 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 acquiring an additional 754,557 shares during the period. Jones Financial Companies Lllp increased its stake in shares of 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 acquiring an additional 510,248 shares during the period. Finally, Atreides Management LP acquired a new stake in First Solar in the second quarter worth approximately $65,134,000. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on FSLR. Daiwa Capital Markets lifted their price target on First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a research report on Tuesday, December 9th. Jefferies Financial Group set a $269.00 target price on First Solar and gave the stock a “buy” rating in a report on Friday, October 31st. Morgan Stanley set a $275.00 price objective on shares of First Solar in a research report on Friday, October 31st. KeyCorp reiterated an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Finally, Rothschild & Co Redburn raised their target price on shares of First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $271.27.

First Solar Stock Performance

Shares of FSLR opened at $272.27 on Friday. The company has a 50-day moving average of $257.07 and a two-hundred day moving average of $213.87. The stock has a market cap of $29.22 billion, a price-to-earnings ratio of 20.91, a PEG ratio of 0.53 and a beta of 1.59. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. First Solar, Inc. has a one year low of $116.56 and a one year high of $285.99.

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

Insider Activity

In related news, Director Paul H. Stebbins sold 7,000 shares of the 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 completion of the sale, the director directly owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. This represents a 31.41% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of First Solar stock in a transaction dated Tuesday, November 4th. The shares were sold at an average price of $265.01, for a total value of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock worth $12,971,349 over the last quarter. Corporate insiders own 0.48% of the company’s stock.

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.