Benjamin Edwards Inc. Purchases Shares of 918 First Solar, Inc. (NASDAQ:FSLR)

Benjamin Edwards Inc. acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 918 shares of the solar cell manufacturer’s stock, valued at approximately $229,000.

Several other large investors have also recently modified their holdings of FSLR. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter worth $1,209,000. Harbour Capital Advisors LLC increased its position in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after buying an additional 3,607 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in First Solar by 6.4% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock valued at $60,898,000 after buying an additional 14,597 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in First Solar in the third quarter worth about $17,635,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of First Solar by 98.0% during the third quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,568 shares of the solar cell manufacturer’s stock worth $9,620,000 after acquiring an additional 19,093 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Up 1.5 %

Shares of FSLR opened at $202.92 on Wednesday. The firm has a market cap 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 12 month low of $135.88 and a 12 month high of $306.77. The stock’s 50 day moving average is $201.62 and its two-hundred day moving average is $224.75. 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 (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). The company had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.50 EPS. Analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FSLR shares. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Roth Mkm lowered their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. William Blair began coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Morgan Stanley cut their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $280.71.

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.