Foster Victor Wealth Advisors LLC Acquires 15,994 Shares of First Solar, Inc. (NASDAQ:FSLR)

Foster Victor Wealth Advisors LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 33.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 63,201 shares of the solar cell manufacturer’s stock after acquiring an additional 15,994 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in First Solar were worth $12,190,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Western Financial Corp CA acquired a new stake in shares of First Solar during the third quarter worth $1,209,000. Whalen Wealth Management Inc. grew its position in shares of First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after buying an additional 1,554 shares during the period. Stifel Financial Corp increased its stake in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares during the last quarter. iA Global Asset Management Inc. raised its position in shares of First Solar by 802.1% in the 3rd quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock valued at $5,104,000 after acquiring an additional 18,192 shares during the period. Finally, Harbour Capital Advisors LLC boosted its stake in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Down 2.5 %

Shares of First Solar stock opened at $160.24 on Wednesday. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $187.95 and its 200-day moving average is $206.91. The stock has a market cap of $17.16 billion, a P/E ratio of 13.80, a P/E/G ratio of 0.20 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the company posted $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Robert W. Baird lowered their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Jefferies Financial Group lowered their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Bank of America decreased their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $276.29.

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.