Main Management ETF Advisors LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Main Management ETF Advisors LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,880 shares of the solar cell manufacturer’s stock, valued at approximately $968,000.

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

First Solar Stock Down 1.9 %

Shares of 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 business’s 50 day moving average is $203.36 and its two-hundred day moving average is $225.70. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 16.73, a PEG ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. Research analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on FSLR. Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Clarkson Capital began coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group reduced 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. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, First Solar has an average 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.