Two Sigma Advisers LP raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 483,969 shares of the solar cell manufacturer’s stock after acquiring an additional 9,767 shares during the period. Two Sigma Advisers LP owned approximately 0.46% of First Solar worth $20,547,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently bought and sold shares of the business. JOYN Advisors Inc. grew its holdings in shares of First Solar by 130.2% in the fourth quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after purchasing an additional 341 shares during the last quarter. Private Capital Group LLC lifted its stake in First Solar by 68.6% in the fourth quarter. Private Capital Group LLC now owns 1,165 shares of the solar cell manufacturer’s stock worth $49,000 after acquiring an additional 474 shares during the period. Valeo Financial Advisors LLC lifted its stake in First Solar by 180.2% in the fourth quarter. Valeo Financial Advisors LLC now owns 1,555 shares of the solar cell manufacturer’s stock worth $66,000 after acquiring an additional 1,000 shares during the period. ETF Managers Group LLC lifted its stake in First Solar by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 1,828 shares of the solar cell manufacturer’s stock worth $78,000 after acquiring an additional 249 shares during the period. Finally, Advisors Asset Management Inc. lifted its stake in First Solar by 231.8% in the fourth quarter. Advisors Asset Management Inc. now owns 2,641 shares of the solar cell manufacturer’s stock worth $112,000 after acquiring an additional 1,845 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.
A number of analysts recently weighed in on the stock. BidaskClub lowered shares of First Solar from a “hold” rating to a “sell” rating in a research note on Saturday, February 9th. Goldman Sachs Group set a $75.00 price target on shares of First Solar and gave the company a “buy” rating in a research report on Wednesday, April 10th. JPMorgan Chase & Co. decreased their price target on shares of First Solar to $70.00 and set an “overweight” rating for the company in a research report on Friday, February 22nd. Miller Tabak raised shares of First Solar from a “hold” rating to a “buy” rating in a research report on Monday, December 17th. Finally, Barclays began coverage on shares of First Solar in a research report on Monday, January 7th. They set an “overweight” rating and a $63.00 price target for the company. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the stock. First Solar currently has an average rating of “Buy” and an average price target of $64.60.
Shares of FSLR traded up $0.05 during mid-day trading on Monday, hitting $60.23. 995,017 shares of the company traded hands, compared to its average volume of 1,531,621. First Solar, Inc. has a 1-year low of $36.51 and a 1-year high of $81.72. The company has a quick ratio of 4.11, a current ratio of 4.57 and a debt-to-equity ratio of 0.09. The company has a market cap of $6.40 billion, a P/E ratio of 44.29, a price-to-earnings-growth ratio of 1.78 and a beta of 1.27.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, February 21st. The solar cell manufacturer reported $0.49 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.64 by ($0.15). First Solar had a return on equity of 2.80% and a net margin of 6.43%. The business had revenue of $691.00 million during the quarter, compared to analyst estimates of $812.52 million. During the same quarter last year, the company posted ($0.25) EPS. First Solar’s quarterly revenue was up 103.8% compared to the same quarter last year. On average, research analysts anticipate that First Solar, Inc. will post 2.47 EPS for the current fiscal year.
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First Solar Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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