Asset Management One Co. Ltd. trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 39.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,264 shares of the solar cell manufacturer’s stock after selling 3,418 shares during the quarter. Asset Management One Co. Ltd.’s holdings in First Solar were worth $242,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after purchasing an additional 243,787 shares in the last quarter. Schroder Investment Management Group raised its stake in shares of First Solar by 12,600.7% in the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after purchasing an additional 1,666,064 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of First Solar by 6.0% in the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock valued at $66,825,000 after purchasing an additional 82,634 shares in the last quarter. Key Square Capital Management LLC acquired a new position in shares of First Solar in the third quarter valued at $23,621,000. Finally, Ecofin Ltd. acquired a new position in shares of First Solar in the second quarter valued at $19,485,000. Institutional investors and hedge funds own 50.87% of the company’s stock.
A number of research analysts recently commented on FSLR shares. Zacks Investment Research lowered First Solar from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 13th. Deutsche Bank upgraded First Solar from a “hold” rating to a “buy” rating and upped their target price for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Robert W. Baird restated a “hold” rating and issued a $50.00 target price on shares of First Solar in a research note on Friday, September 1st. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 target price for the company. in a research note on Wednesday, October 18th. Finally, Bank of America started coverage on First Solar in a research note on Thursday, December 14th. They issued a “neutral” rating and a $70.00 target price for the company. Eleven equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and two have assigned a strong buy rating to the stock. First Solar currently has a consensus rating of “Buy” and a consensus price target of $63.53.
Shares of First Solar, Inc. (NASDAQ FSLR) opened at $68.85 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market capitalization of $7,173.50, a price-to-earnings ratio of -15.72 and a beta of 2.03. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $71.80.
First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.22 earnings per share. research analysts expect that First Solar, Inc. will post 2.52 EPS for the current fiscal year.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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