First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Bangor Savings Bank

Bangor Savings Bank lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,867 shares of the solar cell manufacturer’s stock after selling 57 shares during the quarter. Bangor Savings Bank’s holdings in First Solar were worth $858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC lifted its stake in First Solar by 81,947.0% in 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 during the last quarter. State Street Corp lifted its position in shares of First Solar by 2.2% during the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP increased its holdings in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $434,977,000 after buying an additional 15,890 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Barclays cut their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Finally, Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Four equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Trading Up 2.6 %

NASDAQ FSLR opened at $191.27 on Tuesday. The company has a market cap of $20.48 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.35 and a beta of 1.49. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a 50-day moving average of $192.19 and a 200-day moving average of $212.88.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company 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 business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.15 earnings per share 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.