FUKOKU MUTUAL LIFE INSURANCE Co Purchases New Position in First Solar, Inc. (NASDAQ:FSLR)

FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 1,800 shares of the solar cell manufacturer’s stock, valued at approximately $449,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC increased its holdings in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares during the period. Robeco Institutional Asset Management B.V. increased its position in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the period. Anomaly Capital Management LP acquired a new position in shares of First Solar in the second quarter valued at approximately $53,752,000. International Assets Investment Management LLC raised its stake in shares of First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after purchasing an additional 216,640 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its position in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock valued at $39,350,000 after buying an additional 167,629 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 7.1 %

Shares of NASDAQ:FSLR opened at $195.14 on Friday. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. 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 firm has a market cap of $20.89 billion, a P/E ratio of 16.81, a P/E/G ratio of 0.32 and a beta of 1.48. The company has a 50 day moving average of $216.64 and a 200-day moving average of $225.16.

First Solar (NASDAQ:FSLR) last announced its earnings results 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 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 analyst estimates of $1.07 billion. During the same period last year, the firm earned $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the stock. William Blair assumed coverage on shares of First Solar in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Barclays dropped their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Tuesday, October 29th. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Susquehanna cut their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.50.

About First Solar

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.