Itau Unibanco Holding S.A. Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Itau Unibanco Holding S.A. lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 11,377.2% in the 3rd quarter, Holdings Channel reports. The fund owned 19,167 shares of the solar cell manufacturer’s stock after buying an additional 19,000 shares during the period. Itau Unibanco Holding S.A.’s holdings in First Solar were worth $4,781,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Janus Henderson Group PLC raised its holdings in shares of First Solar by 6.9% during the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock worth $3,019,000 after acquiring an additional 1,161 shares during the period. Cetera Investment Advisers increased its position in First Solar by 1,400.4% in the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after buying an additional 22,392 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of First Solar by 100.3% during the 1st quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock valued at $928,000 after purchasing an additional 2,753 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of First Solar by 54.9% in the 2nd quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock worth $383,000 after purchasing an additional 602 shares in the last quarter. Finally, First Hawaiian Bank bought a new position in shares of First Solar during the 2nd quarter valued at approximately $537,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Up 4.3 %

FSLR stock opened at $207.92 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The stock has a market cap of $22.26 billion, a P/E ratio of 17.91, a P/E/G ratio of 0.35 and a beta of 1.46. The stock’s fifty day simple moving average is $208.12 and its two-hundred day simple moving average is $225.92.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the previous year, the company earned $2.50 EPS. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts expect that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

FSLR has been the subject of a number of recent analyst reports. Mizuho lowered their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial initiated coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Clarkson Capital started coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective for the company. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Jefferies Financial Group reduced their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.71.

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.