First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 0.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,602,503 shares of the solar cell manufacturer’s stock after purchasing an additional 24,143 shares during the quarter. Geode Capital Management LLC owned about 2.43% of First Solar worth $647,440,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in First Solar during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter valued at $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar during the third quarter valued at about $29,000. Atlas Capital Advisors LLC lifted its holdings in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Finally, Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. Morgan Stanley reduced their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Evercore ISI decreased their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Piper Sandler raised their target price on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Four 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $280.71.

First Solar Price Performance

Shares of FSLR opened at $196.32 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $21.02 billion, a PE ratio of 16.91, a PEG ratio of 0.34 and a beta of 1.46. The firm’s 50 day moving average price is $200.17 and its 200 day moving average price is $224.38. First Solar, Inc. has a twelve month low of $135.88 and a twelve month 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 (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business 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 revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 EPS. As a group, research analysts expect that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

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.