First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Lowered by Fred Alger Management LLC

Fred Alger Management LLC trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 23.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,675 shares of the solar cell manufacturer’s stock after selling 816 shares during the period. Fred Alger Management LLC’s holdings in First Solar were worth $667,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new position in shares of First Solar in the 3rd quarter worth $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the 3rd quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the third quarter valued at about $29,000. Atlas Capital Advisors LLC lifted its stake in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC increased its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 3.5 %

NASDAQ:FSLR opened at $199.27 on Monday. 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 company’s 50 day moving average is $208.12 and its 200-day moving average is $225.68. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

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

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent analyst reports. Guggenheim decreased their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Bank of America decreased their target price on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Mizuho dropped their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a research report on Thursday, October 31st. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Jefferies Financial Group dropped 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 investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.