FCG Investment Co Sells 1,368 Shares of First Solar, Inc. (NASDAQ:FSLR)

FCG Investment Co trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 31.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,976 shares of the solar cell manufacturer’s stock after selling 1,368 shares during the quarter. FCG Investment Co’s holdings in First Solar were worth $524,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Western Financial Corp CA bought a new stake in First Solar in the third quarter worth $1,209,000. Stifel Financial Corp increased its holdings in shares of First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after buying an additional 5,780 shares during the period. Whalen Wealth Management Inc. lifted its stake in shares of First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in First Solar by 802.1% during the 3rd quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer’s stock valued at $5,104,000 after acquiring an additional 18,192 shares during the period. Finally, Harbour Capital Advisors LLC grew its position in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Up 1.3 %

First Solar stock opened at $174.11 on Friday. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a market capitalization of $18.64 billion, a price-to-earnings ratio of 15.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. The business’s fifty day simple moving average is $189.56 and its two-hundred day simple moving average is $208.59. 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 announced 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). The firm had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. As a group, equities analysts predict that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FSLR. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Piper Sandler increased their price target on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird cut their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Barclays cut their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $277.75.

About First Solar

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.