MetLife Investment Management LLC Sells 716 Shares of First Solar, Inc. (NASDAQ:FSLR)

MetLife Investment Management LLC reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 27,827 shares of the solar cell manufacturer’s stock after selling 716 shares during the period. MetLife Investment Management LLC’s holdings in First Solar were worth $6,941,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV boosted its holdings in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares in the last quarter. Davis Investment Partners LLC lifted its position 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 worth $1,805,000 after buying an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its stake in First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after buying an additional 49 shares in the last quarter. Gilman Hill Asset Management LLC grew its position in 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 valued at $455,000 after acquiring an additional 50 shares during the last quarter. Finally, Covestor Ltd raised its stake in shares of First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after acquiring an additional 55 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Up 3.5 %

NASDAQ FSLR opened at $199.27 on Friday. The firm has a market capitalization of $21.33 billion, a PE ratio of 17.16, a P/E/G ratio of 0.34 and a beta of 1.48. The stock’s 50 day moving average is $208.94 and its 200 day moving average is $225.35. First Solar, Inc. has a twelve month low of $135.88 and a twelve 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 released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. 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 earned $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms recently commented on FSLR. Mizuho reduced their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating on the stock. Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Bank of America decreased their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

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.