Geode Capital Management LLC Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Geode Capital Management LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 0.9% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,602,503 shares of the solar cell manufacturer's stock after acquiring an additional 24,143 shares during the period. Geode Capital Management LLC owned about 2.43% of First Solar worth $647,440,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FSLR. AlphaMark Advisors LLC purchased a new position in First Solar in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter worth approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar during the third quarter worth approximately $29,000. Atlas Capital Advisors LLC lifted its holdings in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC acquired a new stake in First Solar during the 2nd quarter worth $36,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on FSLR. Jefferies Financial Group reduced their target price on shares of First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a research report on Thursday, October 10th. Citigroup upgraded First Solar from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Guggenheim lowered their price objective on First Solar from $368.00 to $335.00 and set a "buy" rating on the stock in a research note on Wednesday, October 30th. Finally, Mizuho cut their target price on First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a research note on Thursday, October 31st. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $280.71.

First Solar Stock Up 1.7 %

Shares of First Solar stock traded up $3.35 during trading hours on Friday, hitting $199.67. The company had a trading volume of 1,412,557 shares, compared to its average volume of 2,508,194. The company's 50-day moving average is $199.54 and its two-hundred day moving average is $223.85. First Solar, Inc. has a twelve month low of $135.88 and a twelve month 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 has a market cap of $21.38 billion, a P/E ratio of 17.20, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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). The firm had revenue of $887.70 million during 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%. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. Analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current fiscal 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.