First Solar, Inc. $FSLR Shares Bought by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP grew its position in First Solar, Inc. (NASDAQ:FSLR) by 15.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,031 shares of the solar cell manufacturer’s stock after acquiring an additional 5,951 shares during the quarter. Kayne Anderson Capital Advisors LP’s holdings in First Solar were worth $7,454,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FSLR. Nuveen LLC purchased a new stake in shares of First Solar during the first quarter worth $114,730,000. Canada Pension Plan Investment Board grew its position in shares of First Solar by 16,857.8% in 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 in the last quarter. Invesco Ltd. increased its holdings in shares of First Solar by 32.3% in 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 worth $64,802,000 after buying an additional 510,248 shares in the last quarter. Finally, Hill City Capital LP boosted its stake 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 worth $171,313,000 after buying an additional 505,000 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FSLR shares. Needham & Company LLC assumed coverage on shares of First Solar in a report on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price objective for the company. Glj Research increased their price target on shares of First Solar from $214.06 to $314.43 and gave the company a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley set a $275.00 price target on shares of First Solar in a research report on Friday, October 31st. The Goldman Sachs Group reiterated a “buy” rating and issued a $316.00 price objective on shares of First Solar in a research report on Friday, October 31st. Finally, Citigroup raised their target price on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $269.79.

Insider Buying and Selling

In related news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the transaction, the director owned 13,662 shares of the company’s stock, valued at $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,912 shares of company stock worth $12,971,349 over the last 90 days. 0.48% of the stock is owned by insiders.

First Solar Stock Up 0.2%

Shares of FSLR opened at $253.54 on Tuesday. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.41 and a current ratio of 1.90. The stock has a market capitalization of $27.21 billion, a PE ratio of 21.69, a P/E/G ratio of 0.46 and a beta of 1.51. The company’s 50-day simple moving average is $233.82 and its 200-day simple moving average is $194.06. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $281.55.

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

First Solar Company 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.