First Solar, Inc. (NASDAQ:FSLR) Shares Bought by National Bank of Canada FI

National Bank of Canada FI grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 33.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 112,675 shares of the solar cell manufacturer’s stock after buying an additional 28,153 shares during the quarter. National Bank of Canada FI’s holdings in First Solar were worth $28,106,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of FSLR. CWM LLC boosted its position in First Solar by 17.2% during the 2nd quarter. CWM LLC now owns 3,640 shares of the solar cell manufacturer’s stock valued at $821,000 after purchasing an additional 535 shares during the period. Simplicity Wealth LLC purchased a new position in First Solar during the 2nd quarter valued at about $287,000. Czech National Bank increased its stake in shares of First Solar by 8.5% in the second quarter. Czech National Bank now owns 20,397 shares of the solar cell manufacturer’s stock worth $4,599,000 after acquiring an additional 1,598 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in shares of First Solar by 11.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,501 shares of the solar cell manufacturer’s stock valued at $338,000 after buying an additional 154 shares during the last quarter. Finally, V Square Quantitative Management LLC lifted its stake in shares of First Solar by 13.7% in the 2nd quarter. V Square Quantitative Management LLC now owns 2,286 shares of the solar cell manufacturer’s stock valued at $515,000 after purchasing an additional 276 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ:FSLR opened at $200.00 on Tuesday. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The firm has a market capitalization of $21.41 billion, a PE ratio of 17.23, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. 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 stock’s 50-day simple moving average is $202.37 and its 200 day simple moving average is $225.27.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business earned $2.50 EPS. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Analyst Ratings Changes

FSLR has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Clarkson Capital initiated coverage on First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective for the company. Royal Bank of Canada reduced their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Bank of America dropped their price target on 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, Guggenheim lowered their target price on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research 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 issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

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.