Baldwin Investment Management LLC Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Baldwin Investment Management LLC lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 37.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,739 shares of the solar cell manufacturer's stock after purchasing an additional 2,629 shares during the period. Baldwin Investment Management LLC's holdings in First Solar were worth $2,429,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in FSLR. Electron Capital Partners LLC grew its position in shares of First Solar by 81,947.0% during 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 buying an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock worth $136,242,000 after acquiring an additional 516,783 shares in the last quarter. Anomaly Capital Management LP purchased a new position in First Solar during the 2nd quarter valued at about $53,752,000. International Assets Investment Management LLC raised its holdings in shares of First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock valued at $542,560,000 after purchasing an additional 216,640 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its position in shares of First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer's stock worth $39,350,000 after purchasing an additional 167,629 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

Shares of FSLR stock traded up $0.25 on Wednesday, hitting $192.57. The company had a trading volume of 1,713,670 shares, compared to its average volume of 2,524,869. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The firm has a market cap of $20.62 billion, a P/E ratio of 16.45, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The company has a 50-day moving average price of $210.88 and a 200-day moving average price of $225.81.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. 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 prior year, the company posted $2.50 EPS. The company's revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FSLR shares. Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a research note on Tuesday, October 15th. Oppenheimer upped their price objective on First Solar from $325.00 to $326.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 31st. Janney Montgomery Scott upgraded First Solar from a "neutral" rating to a "buy" rating and set a $260.00 target price on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group decreased their price target on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, Clarkson Capital began coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a "buy" rating and a $270.00 price objective on the stock. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average 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.