Oppenheimer & Co. Inc. Boosts Position in First Solar, Inc. (NASDAQ:FSLR)

Oppenheimer & Co. Inc. boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 239.8% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,153 shares of the solar cell manufacturer’s stock after purchasing an additional 2,225 shares during the period. Oppenheimer & Co. Inc.’s holdings in First Solar were worth $786,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in FSLR. AlphaMark Advisors LLC bought a new position in First Solar in the 3rd quarter worth $25,000. Kennebec Savings Bank bought a new position in shares of First Solar in the third quarter worth about $29,000. Atlas Capital Advisors LLC raised its stake 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 worth $31,000 after buying an additional 111 shares during the period. Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of First Solar during the 2nd quarter valued at approximately $38,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $187.36 on Wednesday. The business’s 50 day moving average price is $215.67 and its 200-day moving average price is $225.99. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a market cap of $20.06 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.33 and a beta of 1.48. 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 announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that First Solar, Inc. will post 13.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on FSLR. Piper Sandler decreased their target price on shares of First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a research report on Tuesday, November 5th. Truist Financial started coverage on shares of First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Guggenheim dropped their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

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.