First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Premier Fund Managers Ltd

Premier Fund Managers Ltd grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 42.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,479 shares of the solar cell manufacturer’s stock after buying an additional 18,717 shares during the period. Premier Fund Managers Ltd owned 0.06% of First Solar worth $15,974,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in FSLR. AlphaMark Advisors LLC acquired a new position in First Solar in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the third quarter worth approximately $29,000. Atlas Capital Advisors LLC grew its stake in First Solar by 411.1% in 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 during the period. Finally, Summit Securities Group LLC acquired a new position in First Solar in the 2nd quarter valued at $36,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

FSLR stock opened at $187.36 on Wednesday. The firm has a market cap of $20.06 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.33 and a beta of 1.48. The stock’s 50 day simple moving average is $215.67 and its 200 day simple moving average is $225.99. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77.

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 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 company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.50 earnings per share. As a group, equities research analysts predict that First Solar, Inc. will post 13.16 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSLR. Jefferies Financial Group cut their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Mizuho lowered their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. William Blair assumed coverage on First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating on the stock. The Goldman Sachs Group lowered 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, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Four investment 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, First Solar has an average rating of “Moderate Buy” and a consensus target price of $280.50.

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.