First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Crossmark Global Holdings Inc.

Crossmark Global Holdings Inc. lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 2.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,647 shares of the solar cell manufacturer’s stock after selling 111 shares during the period. Crossmark Global Holdings Inc.’s holdings in First Solar were worth $1,159,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares during the period. Electron Capital Partners LLC increased its holdings in shares of 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 purchasing an additional 7,660,409 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First Solar by 8.8% during the second quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after buying an additional 64,265 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in First Solar by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after buying an additional 2,378 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 7.1 %

Shares of FSLR opened at $195.14 on Friday. The stock has a fifty day moving average price of $216.64 and a two-hundred day moving average price of $225.16. 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, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The company has a market cap of $20.89 billion, a price-to-earnings ratio of 16.81, a PEG ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) 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 business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $2.50 EPS. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.16 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on FSLR. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley dropped their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped 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 note on Wednesday, October 30th. Finally, UBS Group upped their price target on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 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 company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $280.50.

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.