20 Takeover Rumors Hedge Funds Are Buying

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

No. of Hedge Funds: 65

First Solar, Inc. (NASDAQ:FSLR) is a leading US manufacturer of thin-film photovoltaic (PV) solar modules. Their vertically integrated operations in Arizona cover R&D, manufacturing, and recycling. Compared to competitors like JinkoSolar and Canadian Solar, the company’s cadmium telluride technology provides a competitive advantage, offering higher energy yield in hot climates and lower carbon footprints. The demand for domestically sourced clean energy components is on the rise, and IRA incentives and a strong project pipeline across North America enable the company to satisfy this demand.

First Solar, Inc. (NASDAQ:FSLR) has demonstrated strong financial performance, which has been contributed to by the significant tax credits from the Inflation Reduction Act and the increasing manufacturing capacity in the US. Together, these factors also make the company an attractive buyout target. The company is a leader in the market with proprietary thin-film technology, which will further increase its appeal in 2025. Analysts believe that a potential acquisition could come from a large energy company. Such a horizontal takeover could expand the acquirer’s renewable energy portfolio. Such a scenario is plausible given the increasing focus on domestic supply chains.

With 65 hedge funds holding ownership of the company, First Solar, Inc. (NASDAQ:FSLR) gains strong institutional support, attributed to the financial position and the takeover rumors surrounding the company.