Meeder Asset Management Inc. Trims Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Meeder Asset Management Inc. trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 28.8% in the third quarter, HoldingsChannel reports. The firm owned 11,006 shares of the solar cell manufacturer’s stock after selling 4,442 shares during the period. Meeder Asset Management Inc.’s holdings in First Solar were worth $2,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after acquiring an additional 45 shares during the last quarter. Davis Investment Partners LLC raised its stake in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares in the last quarter. Cambridge Trust Co. boosted its stake in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the last quarter. Finally, Gilman Hill Asset Management LLC grew its holdings in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after buying an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on FSLR. Evercore ISI reduced their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Guggenheim lowered their price target on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Stock Performance

NASDAQ:FSLR opened at $195.56 on Tuesday. The firm has a 50-day moving average of $216.08 and a two-hundred day moving average of $226.02. 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 stock has a market cap of $20.94 billion, a P/E ratio of 16.84, a PEG ratio of 0.33 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.

First Solar (NASDAQ:FSLR) last issued its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

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.