First Solar, Inc. (NASDAQ:FSLR) Shares Sold by D.A. Davidson & CO.

D.A. Davidson & CO. trimmed its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 6,039 shares of the solar cell manufacturer’s stock after selling 92 shares during the quarter. D.A. Davidson & CO.’s holdings in First Solar were worth $1,506,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Electron Capital Partners LLC lifted its position in 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 purchasing an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in shares of First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of First Solar by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after buying an additional 64,265 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in First Solar by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock worth $178,625,000 after buying an additional 34,738 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in First Solar by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after buying an additional 2,378 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 3.5 %

NASDAQ:FSLR opened at $199.27 on Friday. The stock’s 50-day moving average is $208.12 and its two-hundred day moving average is $225.41. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a market cap of $21.33 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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 company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 EPS. As a group, equities research analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Susquehanna reduced their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Royal Bank of Canada reduced their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Piper Sandler dropped their price target on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, William Blair assumed coverage on shares of First Solar in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

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.