First Solar, Inc. (NASDAQ:FSLR) Stock Position Raised by Legend Financial Advisors Inc.

Legend Financial Advisors Inc. lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,662 shares of the solar cell manufacturer’s stock after purchasing an additional 125 shares during the period. First Solar makes up about 0.6% of Legend Financial Advisors Inc.’s holdings, making the stock its 21st biggest position. Legend Financial Advisors Inc.’s holdings in First Solar were worth $822,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Doliver Advisors LP raised its position in First Solar by 1.2% during the fourth quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after buying an additional 56 shares during the period. GAMMA Investing LLC grew its stake in First Solar by 21.2% during the 4th quarter. GAMMA Investing LLC now owns 2,254 shares of the solar cell manufacturer’s stock valued at $397,000 after acquiring an additional 395 shares in the last quarter. Oddo BHF Asset Management Sas acquired a new position in shares of First Solar in the 3rd quarter valued at about $18,406,000. Franklin Resources Inc. lifted its position in shares of First Solar by 10.4% in the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after purchasing an additional 12,439 shares in the last quarter. Finally, Peapack Gladstone Financial Corp boosted its holdings in shares of First Solar by 33.3% during the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after purchasing an additional 6,135 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on FSLR shares. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Roth Mkm dropped their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Four research 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 stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

First Solar Price Performance

Shares of FSLR traded up $6.46 during trading hours on Tuesday, hitting $197.73. The stock had a trading volume of 2,107,186 shares, compared to its average volume of 1,834,112. The stock has a market capitalization of $21.17 billion, a price-to-earnings ratio of 17.03, a P/E/G ratio of 0.35 and a beta of 1.49. 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’s fifty day moving average is $192.19 and its two-hundred day moving average is $212.88. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). 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 business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the business posted $2.50 EPS. On average, analysts anticipate 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.