PFG Investments LLC Buys 301 Shares of First Solar, Inc. (NASDAQ:FSLR)

PFG Investments LLC grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,139 shares of the solar cell manufacturer’s stock after buying an additional 301 shares during the period. PFG Investments LLC’s holdings in First Solar were worth $1,082,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FSLR. Wellington Management Group LLP boosted its holdings in shares of First Solar by 75.8% in the third 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 during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after buying an additional 516,783 shares during the period. Merewether Investment Management LP raised its holdings in First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares during the period. Erste Asset Management GmbH bought a new stake in First Solar during the 3rd quarter valued at approximately $67,652,000. Finally, International Assets Investment Management LLC boosted its stake in First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after purchasing an additional 216,640 shares during the period. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank of Canada decreased their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company lowered their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Bank of America dropped their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Evercore ISI lowered their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $276.29.

First Solar Trading Down 2.5 %

First Solar stock opened at $160.24 on Wednesday. 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 stock has a market cap of $17.16 billion, a PE ratio of 13.80, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49. The stock has a 50-day moving average of $187.95 and a two-hundred day moving average of $206.91. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 analyst estimates 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 for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. On average, research analysts anticipate that First Solar, Inc. will post 13.07 EPS for the current fiscal 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.