Chesley Taft & Associates LLC Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Chesley Taft & Associates LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 4.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,730 shares of the solar cell manufacturer’s stock after acquiring an additional 413 shares during the quarter. Chesley Taft & Associates LLC’s holdings in First Solar were worth $1,891,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FSLR. AlphaMark Advisors LLC bought a new position in shares of First Solar during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new position in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar during the third quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after purchasing an additional 200 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 4.9 %

NASDAQ:FSLR opened at $183.51 on Wednesday. The stock has a market cap of $19.65 billion, a price-to-earnings ratio of 15.81, a PEG ratio of 0.22 and a beta of 1.49. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $190.18 and its 200-day moving average price is $209.09. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted 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 business had revenue of $887.70 million during the quarter, compared to the consensus estimate 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 period in the previous year, the business posted $2.50 EPS. On average, equities research analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FSLR. Mizuho decreased their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Susquehanna lowered their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Piper Sandler raised their price target on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. Barclays lowered their price objective on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, Robert W. Baird dropped their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.