Sanctuary Advisors LLC Sells 127 Shares of First Solar, Inc. (NASDAQ:FSLR)

Sanctuary Advisors LLC decreased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,756 shares of the solar cell manufacturer’s stock after selling 127 shares during the quarter. Sanctuary Advisors LLC’s holdings in First Solar were worth $687,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Electron Capital Partners LLC lifted its holdings in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the period. State Street Corp lifted its stake in shares of First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC boosted its position in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP grew its stake in First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in First Solar by 0.9% in 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 purchasing an additional 15,890 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $186.21 on Wednesday. The company has a market capitalization of $19.94 billion, a P/E ratio of 16.04, a P/E/G ratio of 0.35 and a beta of 1.46. The business has a fifty day simple moving average of $195.23 and a two-hundred day simple moving average of $218.79. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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). The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 earnings per share. On average, analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Barclays reduced their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, November 13th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. The Goldman Sachs Group cut their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, Mizuho decreased their price objective on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target 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.