Erste Asset Management GmbH Invests $67.65 Million in First Solar, Inc. (NASDAQ:FSLR)

Erste Asset Management GmbH purchased a new position in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 264,522 shares of the solar cell manufacturer’s stock, valued at approximately $67,652,000. First Solar comprises 0.8% of Erste Asset Management GmbH’s investment portfolio, making the stock its 28th largest position. Erste Asset Management GmbH owned about 0.25% of First Solar at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new position in First Solar in the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new position in First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank purchased a new position in First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC raised its position in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar in the 2nd quarter worth $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of several recent research reports. Royal Bank of Canada decreased their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Mizuho cut their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Finally, Bank of America cut their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four investment 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 stock. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Trading Up 3.5 %

Shares of NASDAQ:FSLR opened at $199.27 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The stock has a market cap 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 business has a 50-day moving average price of $208.12 and a 200-day moving average price of $225.41.

First Solar (NASDAQ:FSLR) last posted its quarterly 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). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 earnings per share. Equities analysts predict that First Solar, Inc. will post 13.15 EPS for the current 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.