iA Global Asset Management Inc. Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

iA Global Asset Management Inc. raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 802.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,460 shares of the solar cell manufacturer’s stock after purchasing an additional 18,192 shares during the period. iA Global Asset Management Inc.’s holdings in First Solar were worth $5,104,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in First Solar during the third quarter worth about $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC grew its position 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 purchasing an additional 111 shares during the period. Finally, Larson Financial Group LLC grew its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Morgan Stanley decreased their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Wells Fargo & Company lowered their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. Finally, Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Four 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 company’s stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $280.71.

First Solar Trading Down 1.9 %

Shares of NASDAQ FSLR opened at $194.19 on Friday. The company has a market cap of $20.79 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The stock’s 50 day simple moving average is $203.36 and its 200 day simple moving average is $225.80. 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 earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm 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%. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. Equities research analysts expect 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.