Banque Cantonale Vaudoise Acquires 5,442 Shares of First Solar, Inc. (NASDAQ:FSLR)

Banque Cantonale Vaudoise grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 26.4% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 26,047 shares of the solar cell manufacturer’s stock after buying an additional 5,442 shares during the period. Banque Cantonale Vaudoise’s holdings in First Solar were worth $6,497,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of FSLR. Kingsview Wealth Management LLC bought a new position in shares of First Solar during the 1st quarter worth approximately $275,000. Blair William & Co. IL boosted its holdings in shares of First Solar by 5.8% during the 1st quarter. Blair William & Co. IL now owns 4,454 shares of the solar cell manufacturer’s stock worth $752,000 after buying an additional 243 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of First Solar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares in the last quarter. Bessemer Group Inc. lifted its holdings in shares of First Solar by 10.6% in the 1st quarter. Bessemer Group Inc. now owns 7,751 shares of the solar cell manufacturer’s stock worth $1,309,000 after purchasing an additional 740 shares in the last quarter. Finally, National Bank of Canada FI lifted its holdings in shares of First Solar by 102.4% in the 1st quarter. National Bank of Canada FI now owns 122,407 shares of the solar cell manufacturer’s stock worth $20,662,000 after purchasing an additional 61,942 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Up 2.7 %

Shares of First Solar stock opened at $195.56 on Tuesday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The firm has a market cap of $20.94 billion, a PE ratio of 16.84, a P/E/G ratio of 0.33 and a beta of 1.48. The stock has a fifty day moving average price of $216.08 and a 200-day moving average price of $226.02. 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 (NASDAQ:FSLR) last announced its quarterly earnings data 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 firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the business posted $2.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that First Solar, Inc. will post 13.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FSLR. Wells Fargo & Company cut their target price on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Truist Financial began coverage on First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Bank of America cut their target price on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Finally, Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $280.50.

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.