Bartlett & CO. Wealth Management LLC Decreases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Bartlett & CO. Wealth Management LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 5.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,263 shares of the solar cell manufacturer’s stock after selling 176 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in First Solar were worth $575,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. State Street Corp boosted its position in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after buying an additional 108,984 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after buying an additional 24,143 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted 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 worth $434,977,000 after buying an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of First Solar by 7.3% in 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 buying an additional 90,249 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the subject of several analyst reports. Roth Mkm cut their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Morgan Stanley cut their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group cut their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Royal Bank of Canada cut their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Stock Down 3.4 %

NASDAQ FSLR opened at $168.25 on Friday. The stock has a market cap of $18.01 billion, a PE ratio of 14.49, a P/E/G ratio of 0.20 and a beta of 1.49. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The business has a 50 day moving average price of $189.11 and a two-hundred day moving average price of $208.18. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 13.07 EPS for the current fiscal 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.