J. Safra Sarasin Holding AG Has $19.95 Million Position in First Solar, Inc. $FSLR

J. Safra Sarasin Holding AG grew its position in First Solar, Inc. (NASDAQ:FSLR) by 56.3% in the third quarter, HoldingsChannel.com reports. The fund owned 90,442 shares of the solar cell manufacturer’s stock after buying an additional 32,583 shares during the period. J. Safra Sarasin Holding AG’s holdings in First Solar were worth $19,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the company. TD Private Client Wealth LLC lifted its stake in First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer’s stock valued at $25,000 after purchasing 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 approximately $26,000. Hantz Financial Services Inc. raised its stake in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after buying an additional 75 shares during the period. Total Investment Management Inc. acquired a new stake in shares of First Solar in the second quarter valued at approximately $36,000. Finally, NBT Bank N A NY lifted its position in shares of First Solar by 550.0% in the third quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock valued at $49,000 after buying an additional 187 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 0.3%

Shares of NASDAQ FSLR opened at $242.97 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $285.99. The stock has a market capitalization of $26.07 billion, a P/E ratio of 18.66, a PEG ratio of 0.31 and a beta of 1.60. The stock’s fifty day moving average is $257.05 and its 200 day moving average is $228.40.

First Solar (NASDAQ:FSLR) last issued 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 the consensus estimate 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 for the quarter was up 79.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.91 EPS. First Solar has set its FY 2025 guidance at 14.000-15.000 EPS. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Wolfe Research upped their price objective on shares of First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Glj Research raised their target price on shares of First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. Morgan Stanley set a $275.00 target price on shares of First Solar in a report on Friday, October 31st. Finally, Citigroup increased their price target on shares of First Solar from $198.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.76.

Insider Buying and Selling

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction dated 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 sale, the director owned 13,662 shares in the company, valued at approximately $3,703,904.82. The trade was a 24.78% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director owned 15,287 shares of the company’s stock, valued at approximately $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 have sold a total of 48,912 shares of company stock valued at $12,971,349 over the last 90 days. 0.48% of the stock is owned by insiders.

First Solar Profile

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.