M&T Bank Corp Has $2.24 Million Position in First Solar, Inc. (NASDAQ:FSLR)

M&T Bank Corp grew its position in First Solar, Inc. (NASDAQ:FSLR) by 11.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,995 shares of the solar cell manufacturer’s stock after purchasing an additional 938 shares during the period. M&T Bank Corp’s holdings in First Solar were worth $2,244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Electron Capital Partners LLC lifted its holdings in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. State Street Corp raised its position in shares of First Solar by 2.2% during 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 purchasing an additional 108,984 shares during the period. Wellington Management Group LLP lifted its holdings in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after purchasing an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Solar by 7.3% during the 3rd 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 purchasing an additional 90,249 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on FSLR shares. The Goldman Sachs Group reduced their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Barclays reduced their target price on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Wells Fargo & Company reduced their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Roth Mkm dropped their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. Four research 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 stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $280.71.

First Solar Trading Up 1.7 %

Shares of First Solar stock opened at $199.67 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 $199.54 and a two-hundred day simple moving average of $223.85. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The company has a market capitalization of $21.38 billion, a price-to-earnings ratio of 17.20, a P/E/G ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

First Solar Company 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.