Concentric Capital Strategies LP Invests $934,000 in First Solar, Inc. (NASDAQ:FSLR)

Concentric Capital Strategies LP acquired a new position in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,746 shares of the solar cell manufacturer’s stock, valued at approximately $934,000.

Several other large investors have also added to or reduced their stakes in FSLR. Electron Capital Partners LLC raised its holdings in 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 worth $1,729,223,000 after acquiring an additional 7,660,409 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of First Solar by 0.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after purchasing an additional 15,890 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Solar by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock worth $331,924,000 after purchasing an additional 90,249 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock valued at $179,478,000 after buying an additional 64,265 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of First Solar by 5.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 716,104 shares of the solar cell manufacturer’s stock valued at $178,625,000 after buying an additional 34,738 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

FSLR opened at $207.92 on Tuesday. 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, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The firm has a market cap of $22.26 billion, a P/E ratio of 17.91, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The business’s fifty day moving average is $208.12 and its 200-day moving average is $225.92.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (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 quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.50 earnings per share. Sell-side analysts expect that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on FSLR. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Bank of America cut their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Susquehanna lowered their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research report on Wednesday, October 30th. Jefferies Financial Group cut their price objective on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Finally, Seaport Res Ptn upgraded First Solar to a “hold” rating in a research note on Tuesday, November 5th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

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.