Guinness Asset Management LTD Has $16.13 Million Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Guinness Asset Management LTD trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 24.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 91,536 shares of the solar cell manufacturer's stock after selling 29,309 shares during the period. Guinness Asset Management LTD owned approximately 0.09% of First Solar worth $16,134,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. AlphaMark Advisors LLC acquired a new position in First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar in the 3rd quarter worth about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth about $29,000. Itau Unibanco Holding S.A. bought a new position in First Solar during the 2nd quarter valued at about $38,000. Finally, Larson Financial Group LLC boosted its position in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after buying an additional 107 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on FSLR. Hsbc Global Res raised shares of First Solar to a "strong-buy" rating in a report on Wednesday, October 9th. Mizuho dropped their price target on First Solar from $274.00 to $257.00 and set a "neutral" rating for the company in a report on Thursday, October 31st. BMO Capital Markets reissued an "outperform" rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Robert W. Baird lowered their target price on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. Finally, The Goldman Sachs Group dropped their price objective on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $277.75.

First Solar Stock Up 1.0 %

NASDAQ FSLR traded up $1.99 on Monday, reaching $192.88. The company had a trading volume of 1,538,842 shares, compared to its average volume of 1,488,167. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 16.61, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The company's fifty day moving average is $190.18 and its 200-day moving average is $209.63.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the business posted $2.50 EPS. The firm's revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts forecast that First Solar, Inc. will post 13.09 earnings per share for the current fiscal 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.