2,977 Shares in First Solar, Inc. (NASDAQ:FSLR) Acquired by TT International Asset Management LTD

TT International Asset Management LTD purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,977 shares of the solar cell manufacturer's stock, valued at approximately $742,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Electron Capital Partners LLC raised its holdings in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. State Street Corp raised its holdings in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC raised its holdings in First Solar by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer's stock worth $647,440,000 after purchasing an additional 24,143 shares during the period. Wellington Management Group LLP increased its stake in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after buying an additional 904,498 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer's stock worth $434,977,000 after buying an additional 15,890 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

Shares of FSLR traded down $3.26 during mid-day trading on Wednesday, hitting $199.66. 1,435,648 shares of the company were exchanged, compared to its average volume of 2,513,268. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. 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 company has a 50 day moving average of $201.62 and a 200-day moving average of $224.75. The stock has a market cap of $21.38 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 EPS. The firm's revenue was up 10.7% on a year-over-year basis. Analysts expect that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on FSLR. Wells Fargo & Company cut their price target on First Solar from $250.00 to $240.00 and set an "overweight" rating for the company in a research note on Wednesday, October 30th. Barclays cut their price target on First Solar from $290.00 to $275.00 and set an "overweight" rating for the company in a research note on Wednesday, November 13th. The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Janney Montgomery Scott upgraded First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Finally, Evercore ISI cut their price objective on First Solar from $281.00 to $278.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Four 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 company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $280.71.

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.