First Solar, Inc. (NASDAQ:FSLR) Position Increased by True North Advisors LLC

True North Advisors LLC lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 58.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,347 shares of the solar cell manufacturer’s stock after purchasing an additional 497 shares during the period. True North Advisors LLC’s holdings in First Solar were worth $237,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar during the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank bought a new position in First Solar during the 3rd quarter worth $29,000. Larson Financial Group LLC increased its position in 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 buying an additional 107 shares during the period. Finally, Sound Income Strategies LLC lifted its stake in First Solar by 555.6% in the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after buying an additional 200 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Up 1.3 %

NASDAQ:FSLR opened at $174.11 on Friday. The stock has a fifty day simple moving average of $189.56 and a 200 day simple moving average of $208.59. The firm has a market capitalization of $18.64 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 analyst estimates of $1.07 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of analyst reports. Mizuho dropped their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Robert W. Baird cut their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday, October 29th. The Goldman Sachs Group cut their target price on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, Susquehanna decreased their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $277.75.

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.