Meeder Asset Management Inc. Has $2.75 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Meeder Asset Management Inc. lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 28.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,006 shares of the solar cell manufacturer's stock after selling 4,442 shares during the period. Meeder Asset Management Inc.'s holdings in First Solar were worth $2,745,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Electron Capital Partners LLC boosted its holdings in shares of First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer's stock valued at $1,729,223,000 after buying 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 acquiring an additional 516,783 shares during the period. Anomaly Capital Management LP acquired a new position in shares of First Solar during the 2nd quarter worth about $53,752,000. International Assets Investment Management LLC raised its holdings in shares of First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock valued at $542,560,000 after purchasing an additional 216,640 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer's stock valued at $39,350,000 after purchasing an additional 167,629 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 4.2 %

Shares of NASDAQ:FSLR traded down $8.20 during trading on Tuesday, reaching $187.36. The stock had a trading volume of 2,211,421 shares, compared to its average volume of 2,530,747. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. 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's fifty day moving average is $215.67 and its 200 day moving average is $225.99. The stock has a market cap of $20.06 billion, a price-to-earnings ratio of 16.14, a P/E/G ratio of 0.33 and a beta of 1.48.

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 firm had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the company posted $2.50 EPS. The business's revenue was up 10.7% compared to the same quarter last year. As a group, equities analysts forecast that First Solar, Inc. will post 13.16 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. Oppenheimer raised their price objective on First Solar from $325.00 to $326.00 and gave the company an "outperform" rating in a research report on Wednesday, July 31st. Bank of America reduced their price objective on shares of First Solar from $321.00 to $269.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. William Blair assumed coverage on shares of First Solar in a research note on Thursday, August 29th. They set a "market perform" rating for the company. DZ Bank upgraded shares of First Solar from a "hold" rating to a "buy" rating and set a $280.00 price target on the stock in a research note on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of First Solar to a "strong-buy" rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average price target of $280.50.

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.