First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.6% during the fourth quarter, HoldingsChannel reports. The firm owned 10,540 shares of the solar cell manufacturer’s stock after selling 276 shares during the period. Hanson & Doremus Investment Management’s holdings in First Solar were worth $1,858,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Wellington Management Group LLP grew its stake in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares during the period. Merewether Investment Management LP lifted its position in shares of First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after buying an additional 293,400 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of First Solar during the 3rd quarter valued at about $67,652,000. Finally, International Assets Investment Management LLC raised its stake in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after acquiring an additional 216,640 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Up 3.6 %

NASDAQ:FSLR opened at $166.01 on Thursday. The company has a market capitalization of $17.77 billion, a P/E ratio of 14.30, a P/E/G ratio of 0.20 and a beta of 1.49. The stock’s 50 day moving average price is $187.57 and its 200 day moving average price is $206.63. 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.

First Solar (NASDAQ:FSLR) last announced 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 business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.50 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts forecast that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on FSLR. The Goldman Sachs Group reduced their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Robert W. Baird dropped their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Roth Mkm decreased their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley decreased their price target 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. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average target price of $276.29.

First Solar Company 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.