Gulf International Bank UK Ltd Sells 84 Shares of First Solar, Inc. (NASDAQ:FSLR)

Gulf International Bank UK Ltd lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 1.0% during the 4th quarter, Holdings Channel reports. The fund owned 7,939 shares of the solar cell manufacturer’s stock after selling 84 shares during the period. Gulf International Bank UK Ltd’s holdings in First Solar were worth $1,399,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. State Street Corp boosted its holdings in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after acquiring an additional 108,984 shares in the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after acquiring an additional 24,143 shares in the last quarter. Wellington Management Group LLP boosted its holdings in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in First Solar by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock worth $331,924,000 after acquiring an additional 90,249 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $136.18 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a fifty day simple moving average of $172.38 and a two-hundred day simple moving average of $197.88. First Solar, Inc. has a 1 year low of $133.90 and a 1 year high of $306.77. The company has a market capitalization of $14.58 billion, a P/E ratio of 11.73, a P/E/G ratio of 0.19 and a beta of 1.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. On average, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Bank of America lowered their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada lowered their price objective on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a research note on Wednesday. Guggenheim lowered their price objective on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday. BMO Capital Markets reissued an “outperform” rating and issued a $230.00 price objective (down from $260.00) on shares of First Solar in a research note on Wednesday. Finally, Barclays lowered their price objective on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $262.08.

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.