First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 72.5% during the 3rd quarter, Holdings Channel.com reports. The fund owned 3,981 shares of the solar cell manufacturer’s stock after selling 10,520 shares during the period. Intech Investment Management LLC’s holdings in First Solar were worth $993,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC lifted its stake in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after buying an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in shares of First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after acquiring an additional 49 shares during the period. Cambridge Trust Co. grew its position in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the last quarter. Finally, Gilman Hill Asset Management LLC grew its position in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on FSLR shares. Royal Bank of Canada reduced their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. 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. Barclays cut their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. 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 research note on Thursday, August 1st. Finally, Roth Mkm cut their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Four equities research 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 stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Price Performance

NASDAQ FSLR opened at $192.57 on Thursday. 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 1 year low of $135.88 and a 1 year high of $306.77. The company has a market cap of $20.62 billion, a PE ratio of 16.45, 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.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the company posted $2.50 EPS. The firm’s revenue was up 10.7% compared to the same quarter last year. On average, analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

First Solar 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.