Chicago Equity Partners LLC purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 46,980 shares of the solar cell manufacturer’s stock, valued at approximately $2,155,000.
A number of other large investors also recently added to or reduced their stakes in FSLR. Commerzbank Aktiengesellschaft FI boosted its holdings in shares of First Solar by 72.5% during the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock valued at $7,593,000 after buying an additional 79,987 shares in the last quarter. Gotham Asset Management LLC bought a new stake in shares of First Solar during the 2nd quarter valued at $14,135,000. Bank of America Corp DE boosted its holdings in shares of First Solar by 67.2% during the 1st quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock valued at $7,409,000 after buying an additional 109,938 shares in the last quarter. Shell Asset Management Co. boosted its holdings in shares of First Solar by 34.3% during the 3rd quarter. Shell Asset Management Co. now owns 38,704 shares of the solar cell manufacturer’s stock valued at $2,547,000 after buying an additional 9,893 shares in the last quarter. Finally, Handelsbanken Fonder AB boosted its holdings in shares of First Solar by 26.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 101,679 shares of the solar cell manufacturer’s stock valued at $4,665,000 after buying an additional 21,000 shares in the last quarter. Institutional investors and hedge funds own 53.55% of the company’s stock.
First Solar, Inc. (FSLR) opened at $61.59 on Monday. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $6,432.03, a P/E ratio of 15.10 and a beta of 1.99. First Solar, Inc. has a 52-week low of $25.56 and a 52-week high of $62.57.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The company’s quarterly revenue was up 59.5% compared to the same quarter last year. During the same period in the prior year, the company earned $1.22 EPS. sell-side analysts predict that First Solar, Inc. will post 2.47 earnings per share for the current fiscal year.
A number of brokerages have recently commented on FSLR. Zacks Investment Research cut shares of First Solar from a “buy” rating to a “hold” rating in a report on Friday. Vetr raised First Solar from a “sell” rating to a “buy” rating and set a $64.01 price target for the company in a research report on Tuesday, October 31st. Roth Capital set a $60.00 price target on First Solar and gave the stock a “buy” rating in a research report on Monday, October 30th. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a research report on Wednesday, August 16th. Finally, Cowen and Company set a $57.00 target price on First Solar and gave the stock a “buy” rating in a research report on Saturday, July 29th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $47.61.
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First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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