DekaBank Deutsche Girozentrale raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 76.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,000 shares of the solar cell manufacturer’s stock after acquiring an additional 13,000 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in First Solar were worth $1,565,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of FSLR. Bank of Montreal Can raised its stake in shares of First Solar by 9.9% during the second quarter. Bank of Montreal Can now owns 16,202 shares of the solar cell manufacturer’s stock valued at $854,000 after acquiring an additional 1,466 shares in the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of First Solar during the second quarter valued at approximately $382,000. Los Angeles Capital Management & Equity Research Inc. raised its stake in shares of First Solar by 393.3% during the second quarter. Los Angeles Capital Management & Equity Research Inc. now owns 64,919 shares of the solar cell manufacturer’s stock valued at $3,419,000 after acquiring an additional 51,759 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of First Solar during the second quarter valued at approximately $757,000. Finally, First Trust Advisors LP raised its stake in shares of First Solar by 11.9% during the second quarter. First Trust Advisors LP now owns 99,038 shares of the solar cell manufacturer’s stock valued at $5,215,000 after acquiring an additional 10,536 shares in the last quarter. 52.17% of the stock is owned by institutional investors.
Shares of NASDAQ:FSLR opened at $44.50 on Thursday. The company has a market capitalization of $4.66 billion, a P/E ratio of 72.95, a price-to-earnings-growth ratio of 1.83 and a beta of 1.32. First Solar, Inc. has a 52 week low of $36.51 and a 52 week high of $81.72. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. The company had revenue of $676.22 million during the quarter, compared to the consensus estimate of $683.93 million. On average, sell-side analysts predict that First Solar, Inc. will post 1.51 EPS for the current fiscal year.
Several analysts have recently weighed in on the stock. Zacks Investment Research raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Argus raised shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Tuesday. BidaskClub raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. ValuEngine raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, November 1st. Finally, Roth Capital set a $65.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research note on Friday, October 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $67.47.
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First Solar Company Profile
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
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