First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Quarry LP

Quarry LP lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 16.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 11,041 shares of the solar cell manufacturer’s stock after buying an additional 1,594 shares during the period. First Solar accounts for approximately 0.7% of Quarry LP’s holdings, making the stock its 27th largest holding. Quarry LP’s holdings in First Solar were worth $2,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Electron Capital Partners LLC raised its stake in shares of First Solar by 81,947.0% during the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after buying an additional 7,660,409 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in First Solar by 0.9% in the 3rd 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 last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in First Solar by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock valued at $331,924,000 after purchasing an additional 90,249 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after purchasing an additional 64,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake 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 valued at $178,625,000 after purchasing an additional 34,738 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR opened at $201.57 on Thursday. The stock’s 50-day moving average price is $206.55 and its 200 day moving average price is $226.08. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market cap of $21.58 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.36 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (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 firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $2.50 EPS. First Solar’s revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on FSLR. Wells Fargo & Company reduced their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Morgan Stanley reduced their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Susquehanna dropped their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $280.71.

About First Solar

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.