Secure Asset Management LLC Has $1.18 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Secure Asset Management LLC increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 18.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,687 shares of the solar cell manufacturer’s stock after buying an additional 1,034 shares during the quarter. Secure Asset Management LLC’s holdings in First Solar were worth $1,179,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after buying an additional 45 shares in the last quarter. Davis Investment Partners LLC raised its holdings in shares of First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after acquiring an additional 46 shares during the last quarter. Gilman Hill Asset Management LLC lifted its position in First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after acquiring an additional 50 shares in the last quarter. Field & Main Bank increased its holdings in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after purchasing an additional 55 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after purchasing an additional 55 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, October 29th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Guggenheim reiterated a “buy” rating and issued a $335.00 price objective on shares of First Solar in a research note on Wednesday. Evercore ISI cut their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average target price of $277.75.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $174.11 on Friday. The company’s fifty day moving average is $189.56 and its 200 day moving average is $208.59. 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, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The stock has a market cap of $18.64 billion, a PE ratio of 15.00, a PEG ratio of 0.21 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that First Solar, Inc. will post 13.07 earnings per share for the current year.

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.