First Solar, Inc. (NASDAQ:FSLR) Shares Bought by State Street Corp

State Street Corp boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 4,956,633 shares of the solar cell manufacturer’s stock after buying an additional 108,984 shares during the period. State Street Corp’s holdings in First Solar were worth $1,236,383,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. AlphaMark Advisors LLC purchased a new stake in shares of First Solar in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the third quarter valued at about $29,000. Atlas Capital Advisors LLC boosted its holdings 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 valued at $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Trading Down 1.9 %

NASDAQ FSLR opened at $194.19 on Friday. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company’s 50 day moving average price is $203.36 and its 200 day moving average price is $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 capitalization of $20.79 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.36 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted 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 net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, sell-side analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on FSLR shares. Truist Financial began coverage on shares of First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a research note on Tuesday, November 5th. Guggenheim lowered their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Finally, Piper Sandler increased their price objective on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Four 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. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $280.71.

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.