LaFleur & Godfrey LLC Sells 175 Shares of First Solar, Inc. (NASDAQ:FSLR)

LaFleur & Godfrey LLC lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 8,427 shares of the solar cell manufacturer’s stock after selling 175 shares during the period. LaFleur & Godfrey LLC’s holdings in First Solar were worth $1,485,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. American Century Companies Inc. lifted its position in First Solar by 33.3% during the second quarter. American Century Companies Inc. now owns 57,292 shares of the solar cell manufacturer’s stock valued at $12,917,000 after purchasing an additional 14,298 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of First Solar by 4.2% during the 2nd quarter. Envestnet Asset Management Inc. now owns 51,473 shares of the solar cell manufacturer’s stock worth $11,605,000 after acquiring an additional 2,077 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its position in First Solar by 1.6% in the second quarter. Mercer Global Advisors Inc. ADV now owns 9,152 shares of the solar cell manufacturer’s stock worth $2,063,000 after acquiring an additional 141 shares in the last quarter. Blair William & Co. IL increased its stake in First Solar by 26.3% in the second quarter. Blair William & Co. IL now owns 5,626 shares of the solar cell manufacturer’s stock valued at $1,268,000 after acquiring an additional 1,172 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in First Solar by 22.7% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 939 shares of the solar cell manufacturer’s stock valued at $211,000 after purchasing an additional 174 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of First Solar stock opened at $192.88 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $190.18 and a two-hundred day simple moving average of $209.63. The firm has a market capitalization of $20.65 billion, a P/E ratio of 16.61, a P/E/G ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts forecast that First Solar, Inc. will post 13.09 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FSLR. Mizuho decreased their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Evercore ISI decreased their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Finally, Roth Mkm reduced their price target 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. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.