First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 3.7% during the 3rd quarter, Holdings Channel reports. The fund owned 3,125 shares of the solar cell manufacturer’s stock after purchasing an additional 111 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in First Solar were worth $780,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. AlphaMark Advisors LLC acquired a new position in First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC increased its holdings in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the last quarter. Summit Securities Group LLC acquired a new stake in First Solar in the second quarter valued at $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter worth about $38,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on FSLR. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a report on Tuesday. Clarkson Capital assumed coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target on the stock. Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $280.50.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $190.45 on Friday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a 50-day moving average price of $216.28 and a 200 day moving average price of $225.23. The company has a market cap of $20.39 billion, a P/E ratio of 16.40, a PEG ratio of 0.32 and a beta of 1.48. 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 EPS 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business earned $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that First Solar, Inc. will post 13.16 earnings per share for the current year.

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.