BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 98.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 38,568 shares of the solar cell manufacturer's stock after purchasing an additional 19,093 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in First Solar were worth $9,620,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in First Solar in the 3rd quarter worth approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC lifted its position in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock valued at $31,000 after purchasing an additional 111 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in First Solar in the second quarter valued at $36,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on FSLR shares. Roth Mkm dropped their target price on First Solar from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company dropped their target price on First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Clarkson Capital started coverage on First Solar in a report on Wednesday, August 14th. They issued a "buy" rating and a $270.00 price objective on the stock. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Four investment 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's stock. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average target price of $280.71.

First Solar Trading Up 4.3 %

FSLR traded up $8.65 during trading hours on Monday, reaching $207.92. The company's stock had a trading volume of 3,842,740 shares, compared to its average volume of 2,528,915. The stock has a market cap of $22.26 billion, a PE ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business's 50-day moving average is $208.12 and its 200-day moving average is $225.92.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results 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). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the company earned $2.50 EPS. As a group, equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

First Solar 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.