Rathbone Brothers plc Acquires New Stake in First Solar, Inc. (FSLR)

Rathbone Brothers plc bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 6,200 shares of the solar cell manufacturer’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. OppenheimerFunds Inc. raised its position in shares of First Solar by 92.8% in the first quarter. OppenheimerFunds Inc. now owns 22,935 shares of the solar cell manufacturer’s stock worth $622,000 after acquiring an additional 11,037 shares during the period. Principal Financial Group Inc. raised its position in shares of First Solar by 171.3% in the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock worth $8,536,000 after acquiring an additional 198,889 shares during the period. PNC Financial Services Group Inc. raised its position in shares of First Solar by 356.1% in the first quarter. PNC Financial Services Group Inc. now owns 24,331 shares of the solar cell manufacturer’s stock worth $658,000 after acquiring an additional 18,996 shares during the period. Thrivent Financial For Lutherans acquired a new position in shares of First Solar in the first quarter worth about $406,000. Finally, Dimensional Fund Advisors LP raised its position in shares of First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after acquiring an additional 158,896 shares during the period. Institutional investors own 53.22% of the company’s stock.

First Solar, Inc. (FSLR) traded up $1.05 during trading on Friday, hitting $61.59. 1,952,600 shares of the stock traded hands, compared to its average volume of 2,841,524. First Solar, Inc. has a twelve month low of $25.56 and a twelve month high of $62.57. 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 stock has a market cap of $6,322.37, a PE ratio of 14.84 and a beta of 1.99.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter in the prior year, the company posted $1.22 EPS. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. research analysts forecast that First Solar, Inc. will post 2.53 earnings per share for the current year.

A number of brokerages have weighed in on FSLR. Zacks Investment Research downgraded shares of First Solar from a “buy” rating to a “hold” rating in a research report on Friday. Vetr upgraded shares of First Solar from a “sell” rating to a “buy” rating and set a $64.01 price objective for the company in a research report on Tuesday, October 31st. Roth Capital set a $60.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Monday, October 30th. JMP Securities set a $67.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Cowen and Company set a $57.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $47.61.

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About First Solar

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.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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