Quadrature Capital Ltd Has $2.45 Million Stake in First Solar, Inc. (NASDAQ:FSLR)

Quadrature Capital Ltd reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 96.4% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,830 shares of the solar cell manufacturer's stock after selling 261,926 shares during the quarter. Quadrature Capital Ltd's holdings in First Solar were worth $2,452,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Western Financial Corp CA acquired a new position in shares of First Solar during the third quarter worth $1,209,000. Harbour Capital Advisors LLC raised its stake in First Solar by 224.0% during the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer's stock worth $1,301,000 after purchasing an additional 3,607 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of First Solar by 6.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer's stock valued at $60,898,000 after acquiring an additional 14,597 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in First Solar during the 3rd quarter valued at $17,635,000. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in First Solar by 98.0% during the 3rd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 38,568 shares of the solar cell manufacturer's stock worth $9,620,000 after acquiring an additional 19,093 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on FSLR shares. Seaport Res Ptn upgraded shares of First Solar to a "hold" rating in a research report on Tuesday, November 5th. Wells Fargo & Company dropped their price target on shares of First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research report on Tuesday, November 12th. William Blair began coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a "market perform" rating on the stock. Finally, Barclays lowered their price objective on shares of First Solar from $290.00 to $275.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 13th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $280.71.

First Solar Stock Down 1.9 %

Shares of FSLR traded down $3.74 during mid-day trading on Friday, hitting $194.19. 2,221,722 shares of the company's stock were exchanged, compared to its average volume of 2,692,063. The company has a market cap of $20.79 billion, a PE ratio of 16.73, a P/E/G ratio of 0.35 and a beta of 1.46. 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, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a 50-day simple moving average of $203.36 and a 200 day simple moving average of $225.70.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar's revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. On average, research analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

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.