Perpetual Ltd Reduces Position in First Solar, Inc. (NASDAQ:FSLR)

Perpetual Ltd reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 23.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,107 shares of the solar cell manufacturer’s stock after selling 1,244 shares during the period. Perpetual Ltd’s holdings in First Solar were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ballentine Partners LLC lifted its stake in First Solar by 8.4% in the 4th quarter. Ballentine Partners LLC now owns 2,844 shares of the solar cell manufacturer’s stock worth $501,000 after purchasing an additional 220 shares in the last quarter. UMB Bank n.a. lifted its position in First Solar by 15.8% during the fourth quarter. UMB Bank n.a. now owns 645 shares of the solar cell manufacturer’s stock worth $114,000 after buying an additional 88 shares in the last quarter. Gilman Hill Asset Management LLC boosted its stake in First Solar by 58.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 2,890 shares of the solar cell manufacturer’s stock worth $509,000 after buying an additional 1,065 shares during the last quarter. City Holding Co. increased its stake in shares of First Solar by 84.9% in the 4th quarter. City Holding Co. now owns 1,666 shares of the solar cell manufacturer’s stock worth $294,000 after acquiring an additional 765 shares during the last quarter. Finally, Polianta Ltd purchased a new position in shares of First Solar during the 4th quarter worth $1,039,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of First Solar stock opened at $171.90 on Thursday. The business has a 50-day simple moving average of $189.98 and a 200-day simple moving average of $208.83. The company has a market cap of $18.40 billion, a PE ratio of 14.81, a P/E/G ratio of 0.22 and a beta of 1.49. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its quarterly 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $2.50 EPS. The company’s revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. Roth Mkm dropped their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Guggenheim restated a “buy” rating and set a $335.00 price target on shares of First Solar in a report on Wednesday. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and upped their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays decreased their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $277.75.

About First Solar

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.