Lazard Freres Gestion S.A.S. Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Lazard Freres Gestion S.A.S. lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 44.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 2,450 shares of the solar cell manufacturer’s stock after purchasing an additional 750 shares during the quarter. Lazard Freres Gestion S.A.S.’s holdings in First Solar were worth $611,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Electron Capital Partners LLC increased its holdings in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after buying an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in First Solar by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after acquiring an additional 64,265 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in First Solar by 5.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock valued at $178,625,000 after purchasing an additional 34,738 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of First Solar by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock valued at $147,080,000 after purchasing an additional 2,378 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several analyst reports. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Clarkson Capital began coverage on shares of First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. Finally, Guggenheim decreased their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Stock Down 2.0 %

NASDAQ:FSLR traded down $3.83 during trading hours on Tuesday, reaching $188.99. The company’s stock had a trading volume of 178,381 shares, compared to its average volume of 2,520,759. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $20.23 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The stock has a 50 day moving average price of $211.84 and a two-hundred day moving average price of $225.80. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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 firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm earned $2.50 EPS. Equities analysts predict that First Solar, Inc. will post 13.15 EPS 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.