The Vanguard Group, Inc. has recently announced that it has increased stake in First Solar Inc (NASDAQ:FSLR) by 2.27%. After grabbing 11.61 million shares, the institutional investor is now in possession of 0.26 million shares of the Technology Company. The new investment brought the stake of investor firm to 10.86% having worth around $1.65 billion. Moreover, BlackRock Fund Advisors increased its share by 0.14 million to have a control over 7.14 million shares. And JPMorgan Investment Management, I raised its holdings to 0.34 million shares by acquiring 5.76 million shares or 5.39% of the stake.
First Solar Inc (FSLR) concluded trading on 12/14/23 at a closing price of $158.25, with 5.54 million shares of worth about $876.73 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -17.95% during that period and on Thursday the price saw a gain of about 7.98%. Currently the company’s common shares owned by public are about 106.61M shares, out of which, 100.10M shares are available for trading.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 208 times over the past 12 months. They bought 285,906 shares in 95 of the transactions. In 113 selling transactions, insiders dumped 260,247 shares.
Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds AMCAP Fund are the top 3 mutual funds which are holding stakes in First Solar Inc Vanguard Total Stock Market ETF is currently holding 3.18 million shares of worth totaling $452.63 million. The company recently came buying 10800.0 shares which brought its stake up to 2.97% of the company’s outstanding shares. Vanguard 500 Index Fund bought 11274.0 shares, after which its hold over company’s outstanding shares expand to 2.41%, leaving 2.58 million shares with the mutual fund that have a worth of about $367.38 million. American Funds AMCAP Fund, after buying 2.35 million shares, have now control over 2.20% of the stake in the company. It holds 1.35 million shares of worth $335.12 million.
However, the stock later moved at a day high price of 164.16, or with a gain of 7.98%. Stock saw a price change of 9.76% in past 5 days and over the past one month there was a price change of 6.11%. Year-to-date (YTD), FSLR shares are showing a performance of 5.65% which increased to 0.74% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $129.21 but also hit the highest price of $232.00 during that period. The average intraday trading volume for First Solar Inc shares is 2.31 million. The stock is currently trading 3.45% above its 20-day simple moving average (SMA20), while that difference is up 5.96% for SMA50 and it goes to -13.53% lower than SMA200.
The Vanguard Group, Inc. acquired 11.61 million shares of First Solar Inc having value of about $1.65 billion. Data submitted at the U.S SEC by The Vanguard Group, Inc. revealed that the firm now holds 0.26 million shares in the company valued at close to $40692879.75, or have control over 2.27% stake in the company. First Solar Inc (NASDAQ: FSLR) currently have 106.61M outstanding shares and institutions hold larger chunk of about 88.99% of that. Holding of mutual funds in the company is about 38.91% while other institutional holders and individual stake holders have control over 52.73% and 37.19% of the stake respectively.
The stock has a current market capitalization of $16.91B and its 3Y-monthly beta is at 1.43. PE ratio of stock for trailing 12 months is 35.86, while it has posted earnings per share of $4.41 in the same period. It has Quick Ratio of 2.45 while making debt-to-equity ratio of 0.09. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FSLR, volatility over the week remained 6.56% while standing at 4.65% over the month.
Analysts are in expectations that First Solar Inc (FSLR) stock would likely to be making an EPS of $3.27 in the current quarter, while forecast for next quarter EPS is $2.46 and it is $13.37 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.01 which is $3.54 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of -$0.07 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 1993.33% while it is estimated to increase by 68.48% in next year.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Morgan Stanley on December 08, 2023 offering an Overweight rating for the stock and assigned a target price range of between $214 and $237 to it.
