First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Silver Lake Advisory LLC

Silver Lake Advisory LLC lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,981 shares of the solar cell manufacturer’s stock after selling 450 shares during the period. First Solar makes up 1.7% of Silver Lake Advisory LLC’s holdings, making the stock its 22nd biggest holding. Silver Lake Advisory LLC’s holdings in First Solar were worth $3,874,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter worth about $1,209,000. Stifel Financial Corp increased its position in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after purchasing an additional 5,780 shares during the last quarter. Whalen Wealth Management Inc. raised its holdings in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares in the last quarter. iA Global Asset Management Inc. lifted its position in shares of First Solar by 802.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock worth $5,104,000 after purchasing an additional 18,192 shares during the last quarter. Finally, Harbour Capital Advisors LLC grew its stake in shares of First Solar by 224.0% during the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of FSLR opened at $174.11 on Friday. The firm has a market capitalization of $18.64 billion, a PE ratio of 15.00, a P/E/G ratio of 0.20 and a beta of 1.49. The stock’s 50 day moving average is $189.56 and its two-hundred day moving average is $208.59. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. 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 released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $2.50 EPS. The company’s revenue was up 10.7% compared to the same quarter last year. Research analysts anticipate that First Solar, Inc. will post 13.07 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on FSLR. Royal Bank of Canada decreased their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Evercore ISI cut their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

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.