Bangor Savings Bank Cuts Position in First Solar, Inc. (NASDAQ:FSLR)

Bangor Savings Bank lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,867 shares of the solar cell manufacturer’s stock after selling 57 shares during the quarter. Bangor Savings Bank’s holdings in First Solar were worth $858,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in First Solar in the 3rd quarter worth $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the 3rd quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in First Solar in the 3rd quarter worth about $29,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter worth approximately $38,000. Finally, Larson Financial Group LLC raised 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 during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR stock opened at $191.27 on Tuesday. The business’s fifty day moving average price is $192.19 and its 200 day moving average price is $212.88. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $20.48 billion, a PE ratio of 16.47, a P/E/G ratio of 0.35 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last issued 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). 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 analysts’ expectations of $1.07 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FSLR. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Jefferies Financial Group lowered their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Barclays reduced their price objective on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 13th. Four research 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 an average rating of “Moderate Buy” and a consensus price target of $279.04.

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.