First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Boosted by Premier Fund Managers Ltd

Premier Fund Managers Ltd raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 42.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,479 shares of the solar cell manufacturer’s stock after purchasing an additional 18,717 shares during the period. Premier Fund Managers Ltd’s holdings in First Solar were worth $15,974,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter worth approximately $1,209,000. Harbour Capital Advisors LLC grew its stake in shares of First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new position in shares of First Solar during the third quarter valued at $17,635,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of First Solar by 6.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock valued at $60,898,000 after purchasing an additional 14,597 shares in the last quarter. Finally, Warther Private Wealth LLC acquired a new stake in First Solar in the third quarter worth about $2,655,000. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $187.36 on Wednesday. The company’s fifty day moving average is $215.67 and its two-hundred day moving average is $225.99. The company has a market cap of $20.06 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. 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 posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm posted $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. William Blair initiated coverage on First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Wells Fargo & Company decreased their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Four 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 company’s stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $280.50.

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.