Private Trust Co. NA Buys 1,156 Shares of First Solar, Inc. (NASDAQ:FSLR)

Private Trust Co. NA boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 3,853.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186 shares of the solar cell manufacturer’s stock after buying an additional 1,156 shares during the period. Private Trust Co. NA’s holdings in First Solar were worth $296,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Electron Capital Partners LLC lifted its position in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of 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 valued at $136,242,000 after purchasing an additional 516,783 shares in the last quarter. Anomaly Capital Management LP purchased a new position in shares of First Solar during the second quarter valued at approximately $53,752,000. International Assets Investment Management LLC boosted its position in shares of 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 valued at $542,560,000 after buying an additional 216,640 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in First Solar by 2,429.1% during the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after buying an additional 167,629 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on FSLR shares. Morgan Stanley cut their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group cut their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Mizuho decreased their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. 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 research report on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their target price on First Solar from $315.00 to $280.00 and set an “outperform” 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 stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Stock Up 0.1 %

Shares of NASDAQ FSLR opened at $192.57 on Friday. The business has a 50-day simple moving average of $209.90 and a two-hundred day simple moving average of $225.58. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a market cap of $20.62 billion, a P/E ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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). The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm posted $2.50 EPS. Research analysts anticipate that First Solar, Inc. will post 13.15 earnings per share 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.