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4. First Solar, Inc. (NASDAQ:FSLR)

Number of Hedge Fund Holders: 44

First Solar, Inc. (NASDAQ:FSLR) manufactures and sells solar panels and provides solar farms and related services. For 2023, the company has provided quite optimistic guidance with net sales to be expected in the range of $3.4 billion to $3.6 billion and diluted EPS between the range of $7.00 to $8.00. On top of that, First Solar, Inc. (NASDAQ:FSLR) guided its net cash balance between $1.2 billion to $1.5 billion at the end of 2023.

On March 14, Argus analyst Bill Selesky reiterated a Buy rating on First Solar, Inc. (NASDAQ:FSLR) after increasing the company’s price target to $261 from $176. Selesky forecasts a “monumental swing” in the company’s profitability in the current year and believes that the Inflation Reduction Act makes a significant bullish case for the company in the coming years.

According to our database, 44 hedge funds had a stake in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter of 2022. The hedge funds had invested a combined total of approximately $700 million.

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