West Tower Group LLC Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

West Tower Group LLC purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 500 shares of the solar cell manufacturer’s stock, valued at approximately $125,000.

Other large investors have also modified their holdings of the company. AlphaMark Advisors LLC purchased a new position in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar in the third quarter valued at $25,000. Kennebec Savings Bank purchased a new position in First Solar in the third quarter valued at $29,000. Atlas Capital Advisors LLC increased its holdings in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the last quarter. Finally, Larson Financial Group LLC increased its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the topic of several recent analyst reports. Roth Mkm dropped their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Finally, StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Trading Up 3.6 %

Shares of FSLR opened at $192.82 on Tuesday. The stock has a fifty day moving average of $211.84 and a two-hundred day moving average of $225.80. 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 $20.64 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

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

About First Solar

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.