Swiss National Bank Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swiss National Bank raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 301,800 shares of the solar cell manufacturer’s stock after buying an additional 700 shares during the period. Swiss National Bank’s holdings in First Solar were worth $75,281,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. BCGM Wealth Management LLC increased its holdings in First Solar by 1.1% during the 3rd quarter. BCGM Wealth Management LLC now owns 6,696 shares of the solar cell manufacturer’s stock valued at $1,670,000 after purchasing an additional 76 shares during the period. Natixis Advisors LLC grew its position in shares of First Solar by 15.2% in the 3rd quarter. Natixis Advisors LLC now owns 72,117 shares of the solar cell manufacturer’s stock worth $17,989,000 after buying an additional 9,537 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of First Solar by 1,196.9% during the third quarter. Mizuho Securities USA LLC now owns 106,972 shares of the solar cell manufacturer’s stock valued at $26,683,000 after buying an additional 98,724 shares during the period. Empowered Funds LLC increased its stake in shares of First Solar by 404.0% during the third quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer’s stock valued at $1,847,000 after buying an additional 5,935 shares during the period. Finally, Empirical Finance LLC lifted its stake in First Solar by 8.5% in the third quarter. Empirical Finance LLC now owns 1,730 shares of the solar cell manufacturer’s stock worth $432,000 after acquiring an additional 136 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 4.2 %

Shares of FSLR stock opened at $187.36 on Wednesday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The stock has a market capitalization of $20.06 billion, a P/E ratio of 16.14, a P/E/G ratio of 0.33 and a beta of 1.48. The firm’s 50 day moving average is $215.67 and its 200 day moving average is $225.99.

First Solar (NASDAQ:FSLR) last released 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). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Research analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Guggenheim reduced 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 report on Wednesday, October 30th. Bank of America decreased their price target on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Oppenheimer lifted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Finally, Royal Bank of Canada reduced their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $280.50.

First Solar 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.