Viking Fund Management LLC Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Viking Fund Management LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 88.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,000 shares of the solar cell manufacturer’s stock after purchasing an additional 8,000 shares during the period. Viking Fund Management LLC’s holdings in First Solar were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of FSLR. Fort Washington Investment Advisors Inc. OH lifted its holdings in First Solar by 7.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,874 shares of the solar cell manufacturer’s stock valued at $330,000 after buying an additional 124 shares in the last quarter. Chesley Taft & Associates LLC raised its stake in shares of First Solar by 4.0% during the fourth quarter. Chesley Taft & Associates LLC now owns 10,730 shares of the solar cell manufacturer’s stock valued at $1,891,000 after acquiring an additional 413 shares in the last quarter. Clear Harbor Asset Management LLC boosted its holdings in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after purchasing an additional 55 shares during the period. Ballentine Partners LLC grew its stake in First Solar by 8.4% in the fourth quarter. Ballentine Partners LLC now owns 2,844 shares of the solar cell manufacturer’s stock worth $501,000 after purchasing an additional 220 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in First Solar by 15.8% during the 4th quarter. UMB Bank n.a. now owns 645 shares of the solar cell manufacturer’s stock worth $114,000 after purchasing an additional 88 shares during the period. 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 research reports. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their price target for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Roth Mkm reduced their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Barclays cut their price target on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, November 13th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $183.51 on Wednesday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The business’s 50 day moving average price is $190.18 and its 200 day moving average price is $209.09. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $19.65 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.22 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during 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 firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.50 EPS. On average, sell-side analysts expect that First Solar, Inc. will post 13.07 earnings per share for the current year.

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.