Bridgewater Associates LP Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Bridgewater Associates LP grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 5,397.2% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 89,989 shares of the solar cell manufacturer’s stock after purchasing an additional 88,352 shares during the period. Bridgewater Associates LP’s holdings in First Solar were worth $22,447,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Massmutual Trust Co. FSB ADV raised its stake in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC grew its holdings in shares of First Solar by 0.6% during the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 49 shares during the last quarter. Cambridge Trust Co. lifted its stake in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC boosted its position in First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the subject of several recent analyst reports. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. UBS Group lifted their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Jefferies Financial Group reduced their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, The Goldman Sachs Group lowered their target price on First Solar from $311.00 to $279.00 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 given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Stock Up 0.1 %

Shares of First Solar stock opened at $192.57 on Thursday. The business 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 fifty-two week low of $135.88 and a fifty-two week high of $306.77. The firm has a market cap 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 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 (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.50 earnings per share. First Solar’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar, Inc. will post 13.15 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.