First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Meeder Asset Management Inc.

Meeder Asset Management Inc. reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 28.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,006 shares of the solar cell manufacturer’s stock after selling 4,442 shares during the quarter. Meeder Asset Management Inc.’s holdings in First Solar were worth $2,745,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. AlphaMark Advisors LLC acquired a new position in First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the 3rd quarter valued at $29,000. Atlas Capital Advisors LLC raised 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 worth $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in First Solar in the second quarter valued at $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on FSLR shares. Mizuho cut their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. Guggenheim cut their price target on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Clarkson Capital began coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Wells Fargo & Company cut their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

First Solar Stock Performance

Shares of FSLR opened at $195.56 on Tuesday. 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, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The company has a 50-day simple moving average of $216.08 and a 200-day simple moving average of $226.02. The company has a market capitalization of $20.94 billion, a PE ratio of 16.84, a P/E/G ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 earnings per share. Equities research analysts predict that First Solar, Inc. will post 13.16 earnings per share for the current fiscal 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.