First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Lowered by Everence Capital Management Inc.

Everence Capital Management Inc. trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 12.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,860 shares of the solar cell manufacturer’s stock after selling 260 shares during the period. Everence Capital Management Inc.’s holdings in First Solar were worth $328,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of First Solar by 21.2% during the 4th quarter. GAMMA Investing LLC now owns 2,254 shares of the solar cell manufacturer’s stock valued at $397,000 after acquiring an additional 395 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of First Solar during the third quarter valued at $18,406,000. Franklin Resources Inc. boosted its position in shares of First Solar by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock valued at $32,835,000 after purchasing an additional 12,439 shares during the period. Peapack Gladstone Financial Corp increased its stake in First Solar by 33.3% in the 3rd quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Blankinship & Foster LLC acquired a new stake in First Solar during the 3rd quarter worth about $935,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Morgan Stanley reduced their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Finally, Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Stock Up 2.6 %

Shares of FSLR stock opened at $191.27 on Tuesday. The stock’s 50 day simple moving average is $192.19 and its 200 day simple moving average is $212.88. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $20.48 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data 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 return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $2.50 earnings per share. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts predict that First Solar, Inc. will post 13.15 EPS 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.