First Solar, Inc. (NASDAQ:FSLR) is Clean Energy Transition LLP’s 2nd Largest Position

Clean Energy Transition LLP lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 37.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 686,700 shares of the solar cell manufacturer’s stock after acquiring an additional 188,205 shares during the period. First Solar accounts for about 8.8% of Clean Energy Transition LLP’s holdings, making the stock its 2nd biggest position. Clean Energy Transition LLP owned approximately 0.64% of First Solar worth $171,290,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of FSLR. Janus Henderson Group PLC grew its position in First Solar by 6.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock worth $3,019,000 after purchasing an additional 1,161 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of First Solar by 1,400.4% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after buying an additional 22,392 shares during the last quarter. Cetera Advisors LLC increased its position in First Solar by 100.3% in the 1st quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock valued at $928,000 after acquiring an additional 2,753 shares during the period. GAMMA Investing LLC raised its stake in First Solar by 54.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock valued at $383,000 after acquiring an additional 602 shares during the last quarter. Finally, First Hawaiian Bank acquired a new position in shares of First Solar in the second quarter valued at approximately $537,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Piper Sandler lowered their target price on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a report on Tuesday, October 29th. Finally, Morgan Stanley cut their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Four research 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’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $279.04.

First Solar Stock Performance

First Solar stock opened at $199.27 on Monday. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.35 and a beta of 1.48. The stock has a fifty day moving average of $208.12 and a two-hundred day moving average of $225.68. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 analyst estimates of $1.07 billion. During the same period in the previous year, the business earned $2.50 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

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.