First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,414 shares of the solar cell manufacturer’s stock after selling 64 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in First Solar were worth $602,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in shares of First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Merewether Investment Management LP boosted its holdings in shares of First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after buying an additional 293,400 shares in the last quarter. Erste Asset Management GmbH acquired a new position in First Solar in the third quarter valued at $67,652,000. Finally, International Assets Investment Management LLC increased its position in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after buying an additional 216,640 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 2.3 %

Shares of NASDAQ:FSLR opened at $164.31 on Tuesday. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The stock’s 50-day moving average price is $188.49 and its two-hundred day moving average price is $207.43. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $17.59 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 0.20 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its 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 during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. On average, research analysts forecast that First Solar, Inc. will post 13.07 EPS for the current year.

Wall Street Analyst Weigh In

FSLR has been the subject of several recent research reports. Bank of America decreased their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their price target on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company cut their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Barclays decreased their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research report on Monday. Finally, Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.67.

First Solar 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.