First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Empowered Funds LLC

Empowered Funds LLC lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 404.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 7,404 shares of the solar cell manufacturer’s stock after buying an additional 5,935 shares during the quarter. Empowered Funds LLC’s holdings in First Solar were worth $1,847,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Electron Capital Partners LLC boosted its position in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares during the period. Anomaly Capital Management LP bought a new stake in First Solar in the 2nd quarter valued at $53,752,000. International Assets Investment Management LLC boosted its holdings in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after purchasing an additional 216,640 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in shares of First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after purchasing an additional 167,629 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Down 1.3 %

Shares of NASDAQ FSLR opened at $184.84 on Thursday. The business has a fifty day moving average price of $214.57 and a 200 day moving average price of $225.70. The stock has a market capitalization of $19.79 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. 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, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly 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 return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. Equities research analysts expect that First Solar, Inc. will post 13.16 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent research reports. Bank of America decreased their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Royal Bank of Canada lowered their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and a consensus 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.