Swedbank AB Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swedbank AB raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 26.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 142,060 shares of the solar cell manufacturer’s stock after purchasing an additional 30,006 shares during the period. Swedbank AB owned 0.13% of First Solar worth $25,037,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the third quarter valued at $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth about $29,000. Larson Financial Group LLC raised its stake in First Solar by 214.0% in the 3rd 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 last quarter. Finally, Sound Income Strategies LLC lifted its holdings in First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after purchasing an additional 200 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FSLR. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Barclays reduced their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday. Evercore ISI lowered their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Finally, Robert W. Baird lowered their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.29.

First Solar Trading Up 0.8 %

NASDAQ FSLR opened at $167.39 on Friday. The company’s fifty day moving average price is $187.26 and its two-hundred day moving average price is $206.36. The company has a market capitalization of $17.92 billion, a price-to-earnings ratio of 14.42, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts predict that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

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.