First Solar, Inc. (NASDAQ:FSLR) Stock Position Reduced by Kingfisher Capital LLC

Kingfisher Capital LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,304 shares of the solar cell manufacturer’s stock after selling 728 shares during the period. Kingfisher Capital LLC’s holdings in First Solar were worth $4,067,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the third quarter worth $25,000. Kennebec Savings Bank bought a new stake in First Solar in the third quarter valued at $29,000. Atlas Capital Advisors LLC grew its position in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar in the 2nd quarter worth about $36,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $192.57 on Friday. The business’s 50-day simple moving average is $209.90 and its 200-day simple moving average is $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 debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $20.62 billion, a price-to-earnings ratio of 16.59, a P/E/G ratio of 0.34 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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). The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. As a group, equities research analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of analyst reports. BMO Capital Markets reissued an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. 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. Susquehanna reduced 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. Finally, Barclays reduced their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. Four investment 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. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $279.04.

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.