Board of the Pension Protection Fund Purchases Shares of 4,000 First Solar, Inc. (NASDAQ:FSLR)

Board of the Pension Protection Fund acquired a new position in First Solar, Inc. (NASDAQ:FSLR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,000 shares of the solar cell manufacturer's stock, valued at approximately $705,000.

A number of other large investors also recently modified their holdings of the stock. Western Financial Corp CA purchased a new stake in First Solar in the 3rd quarter valued at $1,209,000. Stifel Financial Corp grew its stake in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer's stock worth $5,350,000 after acquiring an additional 5,780 shares in the last quarter. Harbour Capital Advisors LLC raised its holdings in shares of First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer's stock valued at $1,301,000 after purchasing an additional 3,607 shares during the last quarter. iA Global Asset Management Inc. lifted its position in shares of First Solar by 802.1% during the third quarter. iA Global Asset Management Inc. now owns 20,460 shares of the solar cell manufacturer's stock valued at $5,104,000 after purchasing an additional 18,192 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. boosted its holdings in First Solar by 6.4% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer's stock worth $60,898,000 after purchasing an additional 14,597 shares during the last quarter. Institutional investors own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Seaport Res Ptn raised First Solar to a "hold" rating in a research report on Tuesday, November 5th. Truist Financial started coverage on First Solar in a research report on Thursday, September 26th. They issued a "buy" rating and a $300.00 price objective on the stock. The Goldman Sachs Group decreased their target price 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. Finally, Susquehanna lowered their target price on First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $277.75.

First Solar Price Performance

FSLR traded up $1.47 during trading on Wednesday, reaching $186.82. 1,375,712 shares of the company were exchanged, compared to its average volume of 1,628,540. 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 company has a market cap of $20.00 billion, a price-to-earnings ratio of 16.09, a P/E/G ratio of 0.35 and a beta of 1.49. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company's 50-day moving average is $190.46 and its two-hundred day moving average is $210.33.

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 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 net margin of 32.41% and a return on equity of 17.56%. First Solar's revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 earnings per share. Research analysts forecast that First Solar, Inc. will post 13.15 earnings per share 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.