SG Americas Securities LLC Buys 30,969 Shares of First Solar, Inc. (NASDAQ:FSLR)

SG Americas Securities LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 92.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 64,339 shares of the solar cell manufacturer’s stock after purchasing an additional 30,969 shares during the quarter. SG Americas Securities LLC’s holdings in First Solar were worth $11,339,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in FSLR. Electron Capital Partners LLC increased its holdings in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after buying an additional 7,660,409 shares in the last quarter. State Street Corp increased its holdings in First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC raised its position in First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of First Solar by 75.8% during the third 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. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after buying an additional 15,890 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the topic of a number of research analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Royal Bank of Canada dropped their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group cut their target price 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. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Stock Up 1.3 %

Shares of First Solar stock opened at $174.11 on Friday. The firm has a market cap of $18.64 billion, a PE ratio of 15.00, a P/E/G ratio of 0.21 and a beta of 1.49. The business’s 50 day simple moving average is $189.56 and its 200 day simple moving average is $208.59. 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, Inc. has a 52-week low of $135.88 and a 52-week 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 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business 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%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.50 EPS. On average, analysts predict that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

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.