Public Sector Pension Investment Board Has $1.34 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Public Sector Pension Investment Board lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,371 shares of the solar cell manufacturer’s stock after acquiring an additional 600 shares during the quarter. Public Sector Pension Investment Board’s holdings in First Solar were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLR. AlphaMark Advisors LLC bought a new position in First Solar during the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC bought a new position in First Solar during the third quarter worth $25,000. Kennebec Savings Bank acquired a new position in First Solar in the third quarter valued at $29,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the last quarter. Finally, Larson Financial Group LLC grew its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently commented on FSLR. Roth Mkm cut their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Piper Sandler increased their target price on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Finally, Wells Fargo & Company decreased their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $280.71.

First Solar Trading Down 1.9 %

NASDAQ:FSLR opened at $194.19 on Friday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The firm has a 50-day moving average price of $203.36 and a two-hundred day moving average price of $225.70. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued 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 business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the business posted $2.50 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal 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.