Zurcher Kantonalbank Zurich Cantonalbank Has $85.95 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 344,565 shares of the solar cell manufacturer’s stock after selling 86,597 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in First Solar were worth $85,948,000 as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. Susquehanna cut their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a research note on Thursday, August 1st. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Oppenheimer boosted their price target on shares of First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Stock Up 0.1 %

First Solar stock opened at $192.57 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $20.62 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48. The firm has a 50 day moving average price of $210.88 and a 200-day moving average price of $225.81. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate 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 for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. As a group, equities analysts predict that First Solar, Inc. will post 13.15 EPS for the current 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.