Duff & Phelps Investment Management Co. Has $2.91 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Duff & Phelps Investment Management Co. increased its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 39.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,650 shares of the solar cell manufacturer's stock after purchasing an additional 3,277 shares during the quarter. Duff & Phelps Investment Management Co.'s holdings in First Solar were worth $2,906,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the 3rd quarter valued at about $25,000. Kennebec Savings Bank acquired a new position in First Solar in the third quarter worth about $29,000. Atlas Capital Advisors LLC increased its holdings in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock valued at $31,000 after buying an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC bought a new stake in First Solar in the second quarter valued at about $36,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Wells Fargo & Company decreased their target price on First Solar from $250.00 to $240.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Truist Financial initiated coverage on shares of First Solar in a research note on Thursday, September 26th. They set a "buy" rating and a $300.00 target price for the company. Janney Montgomery Scott upgraded First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. BMO Capital Markets reissued an "outperform" rating and issued a $260.00 price target (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Finally, Guggenheim dropped their target price on First Solar from $368.00 to $335.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $280.71.

First Solar Price Performance

Shares of NASDAQ FSLR traded up $2.92 during mid-day trading on Tuesday, reaching $202.92. The company had a trading volume of 2,429,944 shares, compared to its average volume of 2,518,032. The company has a 50-day moving average price of $201.62 and a two-hundred day moving average price of $224.75. The stock has a market cap of $21.72 billion, a PE ratio of 17.48, a P/E/G ratio of 0.34 and a beta of 1.46. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 for the quarter, compared to analysts' expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar's quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $2.50 earnings per share. On average, equities analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current 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.