Rockefeller Capital Management L.P. Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Rockefeller Capital Management L.P. increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 73.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 89,274 shares of the solar cell manufacturer's stock after acquiring an additional 37,759 shares during the period. Rockefeller Capital Management L.P. owned approximately 0.08% of First Solar worth $22,267,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Janus Henderson Group PLC increased its position in shares of First Solar by 6.9% in the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer's stock valued at $3,019,000 after buying an additional 1,161 shares in the last quarter. Cetera Investment Advisers increased its holdings in First Solar by 1,400.4% in the 1st quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer's stock worth $4,050,000 after acquiring an additional 22,392 shares in the last quarter. Cetera Advisors LLC raised its position in First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer's stock worth $928,000 after acquiring an additional 2,753 shares during the period. GAMMA Investing LLC lifted its holdings in First Solar by 54.9% during the second quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer's stock valued at $383,000 after purchasing an additional 602 shares in the last quarter. Finally, First Hawaiian Bank acquired a new stake in shares of First Solar in the second quarter valued at about $537,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ:FSLR traded up $6.70 on Friday, reaching $199.27. The company's stock had a trading volume of 2,144,891 shares, compared to its average volume of 3,447,376. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The stock has a market capitalization of $21.33 billion, a P/E ratio of 17.16, a PEG ratio of 0.35 and a beta of 1.48. The stock's 50-day moving average is $208.12 and its two-hundred day moving average is $225.68. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts' expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business's quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. As a group, sell-side analysts forecast that First Solar, Inc. will post 13.15 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FSLR. Mizuho decreased their price target on shares of First Solar from $274.00 to $257.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Jefferies Financial Group lowered their price target on First Solar from $271.00 to $266.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. BMO Capital Markets restated an "outperform" rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Guggenheim dropped their target price on shares of First Solar from $368.00 to $335.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, Piper Sandler decreased their price target on shares of First Solar from $245.00 to $210.00 and set an "overweight" rating on the stock in a research note on Friday, November 22nd. Four equities research 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. Based on data from MarketBeat, First Solar has an average rating of "Moderate Buy" and an average price target of $279.04.

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.