Empowered Funds LLC Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Empowered Funds LLC lifted its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 404.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,404 shares of the solar cell manufacturer's stock after purchasing an additional 5,935 shares during the quarter. Empowered Funds LLC's holdings in First Solar were worth $1,847,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blair William & Co. IL increased its holdings in shares of First Solar by 5.8% during the 1st quarter. Blair William & Co. IL now owns 4,454 shares of the solar cell manufacturer's stock worth $752,000 after buying an additional 243 shares during the last quarter. Bessemer Group Inc. increased its stake in First Solar by 10.6% during the first quarter. Bessemer Group Inc. now owns 7,751 shares of the solar cell manufacturer's stock worth $1,309,000 after acquiring an additional 740 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its position in First Solar by 45.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 74,830 shares of the solar cell manufacturer's stock valued at $12,638,000 after purchasing an additional 23,264 shares during the period. Senator Investment Group LP acquired a new position in shares of First Solar in the 1st quarter valued at $18,055,000. Finally, Mount Yale Investment Advisors LLC grew its holdings in shares of First Solar by 35.8% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,090 shares of the solar cell manufacturer's stock worth $1,366,000 after purchasing an additional 2,132 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FSLR has been the topic of several research analyst reports. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research note on Tuesday, November 12th. Oppenheimer increased their price target on shares of First Solar from $325.00 to $326.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 31st. Seaport Res Ptn upgraded shares of First Solar to a "hold" rating in a report on Tuesday, November 5th. Finally, Citigroup upgraded shares of First Solar from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $280.50.

First Solar Price Performance

Shares of FSLR opened at $184.84 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The firm has a 50-day simple moving average of $214.57 and a 200-day simple moving average of $225.70. The company has a market capitalization of $19.79 billion, a price-to-earnings ratio of 15.92, a price-to-earnings-growth ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 analysts' expectations of $1.07 billion. During the same quarter last year, the business posted $2.50 earnings per share. The company's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities research analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current 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.