Advisors Asset Management Inc. Grows Holdings in First Solar, Inc. (NASDAQ:FSLR)

Advisors Asset Management Inc. grew its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.6% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,718 shares of the solar cell manufacturer’s stock after buying an additional 452 shares during the quarter. Advisors Asset Management Inc.’s holdings in First Solar were worth $1,426,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new position in First Solar during the third quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in shares of First Solar in the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its stake in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of First Solar in the second quarter valued at $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 3.6 %

FSLR stock opened at $192.82 on Tuesday. The company has a market capitalization of $20.64 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. The company’s 50 day moving average price is $211.84 and its two-hundred day moving average price is $225.80. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period last year, the firm earned $2.50 earnings per share. First Solar’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on FSLR. Piper Sandler decreased their price objective on First Solar from $245.00 to $210.00 and set an “overweight” rating for the company in a report on Friday. 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. Bank of America reduced their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” 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 increased their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, Mizuho reduced their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

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.