Raymond James Trust N.A. Sells 420 Shares of First Solar, Inc. (NASDAQ:FSLR)

Raymond James Trust N.A. decreased its stake in First Solar, Inc. (NASDAQ:FSLR) by 26.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196 shares of the solar cell manufacturer’s stock after selling 420 shares during the quarter. Raymond James Trust N.A.’s holdings in First Solar were worth $298,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in shares of First Solar by 5.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock valued at $178,625,000 after purchasing an additional 34,738 shares in the last quarter. Banco Santander S.A. boosted its position in First Solar by 67.6% in the third quarter. Banco Santander S.A. now owns 4,778 shares of the solar cell manufacturer’s stock valued at $1,192,000 after buying an additional 1,928 shares in the last quarter. L & S Advisors Inc grew its stake in First Solar by 6.8% during the third quarter. L & S Advisors Inc now owns 13,397 shares of the solar cell manufacturer’s stock worth $3,342,000 after buying an additional 854 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of First Solar by 0.9% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after buying an additional 15,890 shares in the last quarter. Finally, Citizens Financial Group Inc. RI bought a new position in shares of First Solar in the third quarter valued at approximately $213,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 0.1 %

Shares of FSLR opened at $192.57 on Thursday. The company has a market capitalization of $20.62 billion, a PE ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. The stock’s 50-day moving average price is $210.88 and its two-hundred day moving average price is $225.81. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. 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 earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 EPS. On average, analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current year.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent analyst reports. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a report on Thursday, August 1st. BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Mizuho cut their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Susquehanna decreased their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently 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.