First Solar, Inc. (NASDAQ:FSLR) Stock Position Trimmed by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.2% during the third quarter, Holdings Channel reports. The institutional investor owned 1,468 shares of the solar cell manufacturer’s stock after selling 131 shares during the period. Motley Fool Asset Management LLC’s holdings in First Solar were worth $353,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar during the 3rd quarter worth about $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the 3rd quarter worth about $29,000. Atlas Capital Advisors LLC raised its position in shares of First Solar by 411.1% during the 2nd 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 in the last quarter. Finally, Larson Financial Group LLC raised its position in shares of 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 buying an additional 107 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FSLR has been the topic of a number of recent analyst reports. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Roth Mkm dropped their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Four investment 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $280.71.

First Solar Stock Performance

Shares of FSLR opened at $201.57 on Thursday. 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 company has a market capitalization of $21.58 billion, a PE ratio of 17.36, a PEG ratio of 0.36 and a beta of 1.46. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company’s 50 day moving average price is $206.55 and its 200 day moving average price is $226.08.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.50 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. Research analysts expect that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

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.