Mutual of America Capital Management LLC Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Mutual of America Capital Management LLC trimmed its position in First Solar, Inc. (NASDAQ:FSLR) by 2.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,180 shares of the solar cell manufacturer’s stock after selling 317 shares during the quarter. Mutual of America Capital Management LLC’s holdings in First Solar were worth $3,288,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the company. Western Financial Corp CA purchased a new stake in shares of First Solar in the 3rd quarter valued at $1,209,000. Harbour Capital Advisors LLC lifted its position in First Solar by 224.0% during the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after purchasing an additional 3,607 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in First Solar in the third quarter valued at $17,635,000. Sumitomo Mitsui Trust Group Inc. grew its position in First Solar by 6.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after purchasing an additional 14,597 shares during the period. Finally, Warther Private Wealth LLC purchased a new position in shares of First Solar during the 3rd quarter valued at about $2,655,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several analyst reports. William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating on the stock. Jefferies Financial Group dropped their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Susquehanna decreased their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Four 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Stock Up 2.3 %

Shares of NASDAQ:FSLR opened at $186.05 on Friday. 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 $19.92 billion, a P/E ratio of 16.02, a PEG ratio of 0.33 and a beta of 1.48. The business has a fifty day moving average of $212.65 and a two-hundred day moving average of $225.35. 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 (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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, research analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current year.

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.