Circle Wealth Management LLC Acquires 1,874 Shares of First Solar, Inc. (NASDAQ:FSLR)

Circle Wealth Management LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 89.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,958 shares of the solar cell manufacturer’s stock after acquiring an additional 1,874 shares during the quarter. Circle Wealth Management LLC’s holdings in First Solar were worth $987,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the company. Wells Fargo & Company cut their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. The Goldman Sachs Group cut their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, Barclays dropped their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Stock Performance

First Solar stock opened at $199.27 on Friday. The stock has a market cap of $21.33 billion, a PE ratio of 17.16, a P/E/G ratio of 0.34 and a beta of 1.48. 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 business’s 50-day moving average price is $208.94 and its two-hundred day moving average price is $225.35. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter last year, the firm posted $2.50 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

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.