Larson Financial Group LLC Purchases 107 Shares of First Solar, Inc. (NASDAQ:FSLR)

Larson Financial Group LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 214.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 157 shares of the solar cell manufacturer’s stock after purchasing an additional 107 shares during the period. Larson Financial Group LLC’s holdings in First Solar were worth $39,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of FSLR. Massmutual Trust Co. FSB ADV increased its position in shares of First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after acquiring an additional 45 shares in the last quarter. Davis Investment Partners LLC boosted its stake in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its stake in shares of First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares during the period. Gilman Hill Asset Management LLC lifted its holdings in shares of First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares in the last quarter. Finally, Covestor Ltd boosted its position in shares of First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after buying an additional 55 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FSLR shares. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a research note on Tuesday, November 5th. Mizuho reduced their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Truist Financial began coverage on First Solar in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Finally, The Goldman Sachs Group reduced their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report 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 assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $199.27 on Friday. The firm has a market cap of $21.33 billion, a P/E ratio of 17.16, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The business’s 50 day moving average is $208.94 and its 200-day moving average is $225.35. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.50 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current 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.