Morse Asset Management Inc Has $3.13 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Morse Asset Management Inc grew its position in First Solar, Inc. (NASDAQ:FSLR) by 11.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,534 shares of the solar cell manufacturer’s stock after purchasing an additional 1,284 shares during the quarter. Morse Asset Management Inc’s holdings in First Solar were worth $3,126,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Electron Capital Partners LLC increased its holdings in shares of First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after buying an additional 516,783 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of First Solar in the third quarter valued at $67,652,000. Anomaly Capital Management LP acquired a new position in First Solar during the 2nd quarter valued at about $53,752,000. Finally, International Assets Investment Management LLC boosted its position in shares of First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after buying an additional 216,640 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FSLR. Wells Fargo & Company dropped their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group cut their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Barclays lowered their target price on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Truist Financial initiated coverage on First Solar in a research note on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective on the stock. Finally, Seaport Res Ptn raised shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Four 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 company’s stock. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $280.71.

First Solar Price Performance

Shares of First Solar stock opened at $207.51 on Wednesday. The company 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 business has a 50 day moving average of $207.29 and a 200 day moving average of $226.01. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its 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 the consensus estimate of $1.07 billion. During the same period in the previous year, the firm posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that First Solar, Inc. will post 13.15 earnings per share 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.