Erste Asset Management GmbH Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Erste Asset Management GmbH purchased a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 264,522 shares of the solar cell manufacturer's stock, valued at approximately $67,652,000. First Solar comprises 0.8% of Erste Asset Management GmbH's investment portfolio, making the stock its 28th largest holding. Erste Asset Management GmbH owned about 0.25% of First Solar as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Electron Capital Partners LLC grew its stake in shares of First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock valued at $136,242,000 after buying an additional 516,783 shares during the last quarter. Anomaly Capital Management LP acquired a new stake in shares of First Solar in the second quarter valued at about $53,752,000. International Assets Investment Management LLC increased its stake in shares of First Solar by 24,844.0% in the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock valued at $542,560,000 after buying an additional 216,640 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of First Solar by 2,429.1% in the second quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer's stock worth $39,350,000 after acquiring an additional 167,629 shares during the period. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of analyst reports. William Blair began coverage on shares of First Solar in a research note on Thursday, August 29th. They set a "market perform" rating for the company. Roth Mkm dropped their price objective on First Solar from $320.00 to $280.00 and set a "buy" rating on the stock in a research note on Tuesday, October 15th. Truist Financial initiated coverage on First Solar in a research note on Thursday, September 26th. They set a "buy" rating and a $300.00 target price for the company. Barclays cut their price target on First Solar from $290.00 to $275.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. Four investment 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $279.04.

First Solar Price Performance

NASDAQ:FSLR traded up $6.70 during midday trading on Friday, hitting $199.27. The company had a trading volume of 2,144,891 shares, compared to its average volume of 3,447,376. 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 capitalization of $21.33 billion, a PE ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. The stock's fifty day moving average price is $208.12 and its 200-day moving average price is $225.68. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter in the previous year, the business earned $2.50 earnings per share. The firm's revenue was up 10.7% on a year-over-year basis. As a group, research analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current year.

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.