First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 15,942 shares of the solar cell manufacturer’s stock after selling 1,265 shares during the quarter. Janus Henderson Group PLC’s holdings in First Solar were worth $3,975,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. AlphaMark Advisors LLC acquired a new position in First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the 3rd quarter valued at $29,000. Atlas Capital Advisors LLC raised its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC lifted its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on FSLR. Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Wells Fargo & Company reduced their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

First Solar Stock Performance

NASDAQ FSLR opened at $202.92 on Wednesday. The business has a 50 day moving average price of $201.62 and a 200 day moving average price of $224.75. The company has a market capitalization of $21.72 billion, a P/E ratio of 17.48, a PEG ratio of 0.34 and a beta of 1.46. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. 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 firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business earned $2.50 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts expect that First Solar, Inc. will post 13.15 EPS for the current fiscal 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.