The Manufacturers Life Insurance Company Grows Stock Position in First Solar, Inc. (NASDAQ:FSLR)

The Manufacturers Life Insurance Company raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 80,271 shares of the solar cell manufacturer’s stock after acquiring an additional 1,479 shares during the period. The Manufacturers Life Insurance Company’s holdings in First Solar were worth $20,036,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in First Solar by 6.9% during the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock worth $3,019,000 after purchasing an additional 1,161 shares during the last quarter. Cetera Investment Advisers boosted its holdings in First Solar by 1,400.4% in the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock valued at $4,050,000 after acquiring an additional 22,392 shares during the last quarter. Cetera Advisors LLC grew its position in First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock valued at $928,000 after acquiring an additional 2,753 shares during the period. GAMMA Investing LLC grew its position in First Solar by 54.9% during the second quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock valued at $383,000 after acquiring an additional 602 shares during the period. Finally, First Hawaiian Bank acquired a new stake in First Solar during the second quarter worth about $537,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $199.27 on Friday. The business has a 50 day simple moving average of $208.12 and a 200-day simple moving average of $225.41. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a market capitalization of $21.33 billion, a price-to-earnings ratio of 17.16, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. 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 (NASDAQ:FSLR) last issued its earnings results 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). 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 analyst estimates of $1.07 billion. During the same period last year, the company posted $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Barclays decreased their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, November 13th. William Blair initiated coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Truist Financial began coverage on shares of First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 target price on the stock. Bank of America decreased their price target on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Mizuho decreased their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Four investment 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Company 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.