First Solar, Inc. (NASDAQ:FSLR) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Solar, Inc. (NASDAQ:FSLR) by 7.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,330,675 shares of the solar cell manufacturer’s stock after acquiring an additional 90,249 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 1.24% of First Solar worth $331,924,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Western Financial Corp CA acquired a new position in First Solar during the third quarter worth about $1,209,000. Harbour Capital Advisors LLC increased its stake in shares of 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 worth $1,301,000 after purchasing an additional 3,607 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its position in shares of First Solar by 6.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after purchasing an additional 14,597 shares during the last quarter. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new stake in First Solar in the 3rd quarter valued at approximately $17,635,000. Finally, Warther Private Wealth LLC acquired a new stake in First Solar during the 3rd quarter valued at $2,655,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of a number of analyst reports. Mizuho cut their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price for the company. William Blair assumed coverage on shares of First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $199.27 on Friday. The company has a market cap of $21.33 billion, a P/E ratio of 17.16, a PEG ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The business’s 50-day simple moving average is $208.94 and its 200 day simple moving average is $225.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. On average, sell-side analysts forecast that First Solar, Inc. will post 13.15 earnings per share 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.