First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Glenmede Trust Co. NA

Glenmede Trust Co. NA lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 4.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,328 shares of the solar cell manufacturer’s stock after acquiring an additional 91 shares during the quarter. Glenmede Trust Co. NA’s holdings in First Solar were worth $581,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Massmutual Trust Co. FSB ADV boosted its holdings in First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares in the last quarter. Davis Investment Partners LLC boosted its holdings in First Solar by 0.6% during the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its holdings in 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 worth $2,068,000 after buying an additional 49 shares in the last quarter. Gilman Hill Asset Management LLC boosted its holdings in 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 buying an additional 50 shares in the last quarter. Finally, Covestor Ltd boosted its holdings in First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after buying an additional 55 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $207.51 on Wednesday. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The stock has a market cap of $22.22 billion, a PE ratio of 17.87, a P/E/G ratio of 0.36 and a beta of 1.46. The firm has a 50-day simple moving average of $207.29 and a two-hundred day simple moving average of $226.01. 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 (NASDAQ:FSLR) last announced its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. First Solar’s revenue was up 10.7% on a year-over-year basis. As a group, analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on FSLR shares. Morgan Stanley lowered their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Seaport Res Ptn raised shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company decreased their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Truist Financial began coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Finally, The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $280.71.

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.