Board of the Pension Protection Fund Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Board of the Pension Protection Fund acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 4,000 shares of the solar cell manufacturer’s stock, valued at approximately $705,000.

Other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its holdings in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares in the last quarter. Davis Investment Partners LLC boosted its stake in shares of First Solar by 0.6% during the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after acquiring an additional 46 shares in the last quarter. Gilman Hill Asset Management LLC boosted its position in First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after purchasing an additional 50 shares in the last quarter. Covestor Ltd grew its holdings in First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the last quarter. Finally, Field & Main Bank increased its position in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after buying an additional 55 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $185.35 on Wednesday. The firm’s fifty day simple moving average is $191.07 and its 200 day simple moving average is $210.62. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The firm has a market capitalization of $19.84 billion, a price-to-earnings ratio of 15.96, a PEG ratio of 0.35 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last posted its earnings results 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 company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. As a group, equities research analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Evercore ISI lowered their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Truist Financial started coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price objective for the company. The Goldman Sachs Group dropped their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Four equities 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.75.

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.