Lazard Freres Gestion S.A.S. Increases Position in First Solar, Inc. (NASDAQ:FSLR)

Lazard Freres Gestion S.A.S. increased its position in First Solar, Inc. (NASDAQ:FSLR) by 44.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,450 shares of the solar cell manufacturer’s stock after acquiring an additional 750 shares during the period. Lazard Freres Gestion S.A.S.’s holdings in First Solar were worth $611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new position in shares of First Solar in the third quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar in the 3rd quarter worth approximately $25,000. Kennebec Savings Bank acquired a new position in First Solar in the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the period. Finally, Summit Securities Group LLC acquired a new stake in First Solar during the 2nd quarter valued at approximately $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FSLR shares. Mizuho reduced their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Susquehanna lowered their target price on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler lowered their price objective on First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Price Performance

NASDAQ FSLR traded down $3.83 during trading hours on Tuesday, hitting $188.99. 178,381 shares of the company’s stock traded hands, compared to its average volume of 2,520,759. 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 firm’s 50-day moving average is $211.84 and its 200-day moving average is $225.80. The company has a market capitalization of $20.23 billion, a PE ratio of 16.61, a PEG ratio of 0.33 and a beta of 1.48. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last announced 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 firm 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 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities analysts forecast that First Solar, Inc. will post 13.15 EPS 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.