First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 340.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,743 shares of the solar cell manufacturer's stock after purchasing an additional 159,845 shares during the period. Assenagon Asset Management S.A. owned approximately 0.19% of First Solar worth $36,436,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its stake in First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer's stock valued at $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC boosted its position in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer's stock valued at $1,805,000 after buying an additional 46 shares during the last quarter. Gilman Hill Asset Management LLC increased 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 buying an additional 50 shares during the period. Covestor Ltd raised its position in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer's stock worth $229,000 after buying an additional 55 shares during the last quarter. Finally, Field & Main Bank lifted 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 acquiring an additional 55 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Susquehanna reduced their target price on shares of First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Citigroup upgraded First Solar from a "neutral" rating to a "buy" rating and upped their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Bank of America decreased their price target on First Solar from $321.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Truist Financial began coverage on shares of First Solar in a report on Thursday, September 26th. They set a "buy" rating and a $300.00 target price for the company. Finally, StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average price target of $277.75.

First Solar Stock Up 1.0 %

Shares of NASDAQ:FSLR traded up $1.99 during trading on Friday, hitting $192.88. The company's stock had a trading volume of 1,538,842 shares, compared to its average volume of 1,638,984. The company has a market capitalization of $20.65 billion, a PE ratio of 16.61, a P/E/G ratio of 0.21 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. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The business has a 50 day moving average price of $190.20 and a two-hundred day moving average price of $210.03.

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 company had revenue of $887.70 million during the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter in the previous year, the business posted $2.50 EPS. The business's quarterly revenue was up 10.7% compared to the same quarter last year. As a group, research analysts expect that First Solar, Inc. will post 13.09 EPS for the current fiscal year.

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.