Bridgewater Associates LP Grows Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Bridgewater Associates LP lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 5,397.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 89,989 shares of the solar cell manufacturer’s stock after buying an additional 88,352 shares during the quarter. Bridgewater Associates LP owned approximately 0.08% of First Solar worth $22,447,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in First Solar during the third quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its holdings in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC boosted its position in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on FSLR shares. Clarkson Capital began coverage on First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. Jefferies Financial Group cut their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. UBS Group boosted their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, 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 research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Trading Up 0.1 %

Shares of First Solar stock opened at $192.57 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $20.62 billion, a P/E ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The company’s fifty day moving average is $210.88 and its two-hundred day moving average is $225.81.

First Solar (NASDAQ:FSLR) last released its quarterly 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). The company had revenue of $887.70 million for 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 business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current year.

About First Solar

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.