BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $9.62 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 98.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,568 shares of the solar cell manufacturer’s stock after buying an additional 19,093 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Solar were worth $9,620,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. Electron Capital Partners LLC grew its stake in First Solar by 81,947.0% in the second 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 purchasing an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after purchasing an additional 15,890 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Solar by 7.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock valued at $331,924,000 after purchasing an additional 90,249 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in First Solar by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after purchasing an additional 64,265 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in First Solar by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock valued at $178,625,000 after purchasing an additional 34,738 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $199.27 on Monday. The stock has a market capitalization of $21.33 billion, a PE ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business has a fifty day moving average price of $208.12 and a two-hundred day moving average price of $225.68. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

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 net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. First Solar’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada decreased their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Piper Sandler reduced their target price on First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a research note on Friday, November 22nd. Truist Financial started coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $279.04.

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.