Courier Capital LLC Reduces Position in First Solar, Inc. (NASDAQ:FSLR)

Courier Capital LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 26.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,882 shares of the solar cell manufacturer's stock after selling 3,474 shares during the quarter. Courier Capital LLC's holdings in First Solar were worth $1,742,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in FSLR. Burns J W & Co. Inc. NY boosted its holdings in shares of First Solar by 27.5% during the fourth quarter. Burns J W & Co. Inc. NY now owns 1,530 shares of the solar cell manufacturer's stock worth $270,000 after purchasing an additional 330 shares during the period. Fulcrum Capital LLC lifted its holdings in First Solar by 1.1% in the 4th quarter. Fulcrum Capital LLC now owns 34,879 shares of the solar cell manufacturer's stock worth $6,147,000 after buying an additional 380 shares during the period. Clean Yield Group grew its position in shares of First Solar by 4.2% in the 4th quarter. Clean Yield Group now owns 27,491 shares of the solar cell manufacturer's stock worth $4,845,000 after buying an additional 1,109 shares during the last quarter. Trust Co. of Toledo NA OH increased its stake in shares of First Solar by 94.1% during the fourth quarter. Trust Co. of Toledo NA OH now owns 3,300 shares of the solar cell manufacturer's stock valued at $582,000 after buying an additional 1,600 shares during the period. Finally, TT International Asset Management LTD raised its holdings in shares of First Solar by 221.7% during the fourth quarter. TT International Asset Management LTD now owns 9,578 shares of the solar cell manufacturer's stock valued at $1,688,000 after acquiring an additional 6,601 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of NASDAQ FSLR traded down $5.63 during mid-day trading on Monday, hitting $183.61. 1,487,211 shares of the company's stock traded hands, compared to its average volume of 1,720,038. The company has a market capitalization of $19.66 billion, a P/E ratio of 15.81, a PEG ratio of 0.35 and a beta of 1.49. 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 current ratio of 2.14 and a quick ratio of 1.44. The company's 50-day moving average is $191.64 and its two-hundred day moving average is $211.08.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 the consensus estimate of $1.07 billion. During the same period in the previous year, the business earned $2.50 earnings per share. First Solar's revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate 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. Bank of America reduced their price objective on shares of First Solar from $321.00 to $269.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Janney Montgomery Scott raised First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. Citigroup raised First Solar from a "neutral" rating to a "buy" rating and increased their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, Seaport Res Ptn upgraded shares of First Solar to a "hold" rating in a report on Tuesday, November 5th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $277.75.

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.

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