First Solar, Inc. (NASDAQ:FSLR) Position Trimmed by Davis Investment Partners LLC

Davis Investment Partners LLC lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,037 shares of the solar cell manufacturer’s stock after selling 661 shares during the period. Davis Investment Partners LLC’s holdings in First Solar were worth $1,332,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its position in shares of First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the period. Gilman Hill Asset Management LLC raised its holdings in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after buying an additional 50 shares during the period. Field & Main Bank lifted its stake in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after buying an additional 55 shares in the last quarter. Covestor Ltd boosted its holdings in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after buying an additional 55 shares during the period. Finally, Xponance Inc. increased its position in shares of First Solar by 0.4% in the second quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after acquiring an additional 56 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSLR. BMO Capital Markets restated an “outperform” rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI cut their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Barclays reduced their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. Finally, Bank of America dropped their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Trading Down 3.0 %

NASDAQ:FSLR traded down $5.63 on Monday, hitting $183.61. 1,471,408 shares of the stock were exchanged, compared to its average volume of 1,719,717. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The stock has a market capitalization of $19.66 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.35 and a beta of 1.49. The company’s 50-day moving average price is $191.64 and its 200 day moving average price is $211.08.

First Solar (NASDAQ:FSLR) last announced 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities research analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current 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.