First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 41,738 shares of the solar cell manufacturer’s stock after selling 818 shares during the quarter. Fisher Asset Management LLC’s holdings in First Solar were worth $10,411,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the third quarter worth about $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the third quarter worth about $29,000. Atlas Capital Advisors LLC raised its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $192.57 on Thursday. The company’s 50-day moving average is $210.88 and its two-hundred day moving average is $225.81. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. Guggenheim dropped their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. UBS Group increased their target price on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays cut their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Wells Fargo & Company lowered their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.