Buffington Mohr McNeal Buys 503 Shares of First Solar, Inc. (NASDAQ:FSLR)

Buffington Mohr McNeal raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 10.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 5,289 shares of the solar cell manufacturer’s stock after acquiring an additional 503 shares during the period. Buffington Mohr McNeal’s holdings in First Solar were worth $932,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FSLR shares. BMO Capital Markets reaffirmed 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. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. The Goldman Sachs Group reduced their price target 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. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Morgan Stanley dropped their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $277.67.

First Solar Price Performance

Shares of First Solar stock opened at $164.31 on Tuesday. The stock has a market cap of $17.59 billion, a price-to-earnings ratio of 14.15, a price-to-earnings-growth ratio of 0.20 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a 50 day moving average price of $188.49 and a 200-day moving average price of $207.43. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the prior year, the business posted $2.50 earnings per share. First Solar’s revenue was up 10.7% on a year-over-year basis. Equities analysts expect that First Solar, Inc. will post 13.07 EPS 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.