Independent Advisor Alliance boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR – Free Report) by 10.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,027 shares of the solar cell manufacturer’s stock after buying an additional 198 shares during the period. Independent Advisor Alliance’s holdings in First Solar were worth $506,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently bought and sold shares of the stock. Electron Capital Partners LLC raised its holdings in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after purchasing an additional 64,265 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of First Solar by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock valued at $178,625,000 after purchasing an additional 34,738 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of First Solar by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after buying an additional 2,378 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. Evercore ISI cut their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Roth Mkm decreased their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.
First Solar Trading Up 0.1 %
Shares of NASDAQ:FSLR opened at $192.57 on Thursday. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The business has a 50 day moving average of $210.88 and a 200-day moving average of $225.81. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.62 billion, a PE ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48.
First Solar (NASDAQ:FSLR – Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. As a group, equities research analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current year.
First Solar Profile
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.
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