Vectors Research Management LLC Cuts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Vectors Research Management LLC lessened its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 14,894 shares of the solar cell manufacturer’s stock after selling 394 shares during the period. First Solar makes up 1.1% of Vectors Research Management LLC’s portfolio, making the stock its 25th biggest position. Vectors Research Management LLC’s holdings in First Solar were worth $3,715,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the third quarter worth about $29,000. Atlas Capital Advisors LLC grew its stake in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC purchased a new stake in First Solar during the 2nd quarter worth $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in First Solar in the 2nd quarter worth $38,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSLR. Piper Sandler dropped their target price on First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Truist Financial started coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Bank of America decreased their price target on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Jefferies Financial Group dropped their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $280.50.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $195.14 on Friday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The firm has a market cap of $20.89 billion, a P/E ratio of 16.81, a PEG ratio of 0.32 and a beta of 1.48. The stock has a fifty day moving average price of $216.64 and a two-hundred day moving average price of $225.16. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its earnings results 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 net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts forecast that First Solar, Inc. will post 13.16 EPS for the current fiscal 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.