Boston Common Asset Management LLC Increases Position in First Solar, Inc. (NASDAQ:FSLR)

Boston Common Asset Management LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,811 shares of the solar cell manufacturer’s stock after purchasing an additional 6,377 shares during the quarter. Boston Common Asset Management LLC’s holdings in First Solar were worth $13,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. AlphaMark Advisors LLC acquired a new stake in shares of First Solar in the 3rd quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the third quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the third quarter worth about $29,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. Finally, Itau Unibanco Holding S.A. acquired a new stake in First Solar in the 2nd quarter worth approximately $38,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent analyst reports. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Mizuho reduced their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Guggenheim reduced their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Finally, Roth Mkm decreased their target price on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.75.

First Solar Price Performance

NASDAQ FSLR traded up $0.69 during trading hours on Friday, reaching $191.58. The company’s stock had a trading volume of 172,859 shares, compared to its average volume of 1,501,832. The firm has a market capitalization of $20.51 billion, a price-to-earnings ratio of 16.49, a P/E/G ratio of 0.21 and a beta of 1.49. The company’s 50-day moving average is $190.20 and its two-hundred day moving average is $210.03. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

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 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 period in the previous year, the company earned $2.50 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.09 EPS for the current year.

First Solar 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.