First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.6% in the third quarter, Holdings Channel.com reports. The fund owned 108,918 shares of the solar cell manufacturer’s stock after selling 2,915 shares during the period. Caisse DE Depot ET Placement DU Quebec’s holdings in First Solar were worth $27,169,000 at the end of the most recent reporting period.

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

First Solar Trading Up 3.5 %

NASDAQ:FSLR opened at $199.27 on Monday. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The business’s 50-day moving average is $208.12 and its two-hundred day moving average is $225.68. 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 firm has a market capitalization of $21.33 billion, a PE ratio of 17.16, a price-to-earnings-growth ratio of 0.35 and a beta of 1.48.

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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period last year, the firm posted $2.50 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley cut their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company 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 research note on Tuesday, October 29th. Piper Sandler cut their target price on shares of First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Finally, Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research note on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.