iA Global Asset Management Inc. Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

iA Global Asset Management Inc. raised its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 802.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,460 shares of the solar cell manufacturer's stock after purchasing an additional 18,192 shares during the period. iA Global Asset Management Inc.'s holdings in First Solar were worth $5,104,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of FSLR. AlphaMark Advisors LLC bought a new stake in First Solar in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new position in shares of First Solar during the 3rd quarter worth about $25,000. Kennebec Savings Bank bought a new position in shares of First Solar during the 3rd quarter worth about $29,000. Atlas Capital Advisors LLC lifted its holdings in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock worth $31,000 after acquiring an additional 111 shares during the period. Finally, Summit Securities Group LLC bought a new position in shares of First Solar during the 2nd quarter worth about $36,000. 92.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on FSLR shares. Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. BMO Capital Markets reiterated an "outperform" rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating for the company 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. Finally, 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 research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and a consensus target price of $280.71.

First Solar Price Performance

NASDAQ FSLR traded down $3.74 on Friday, hitting $194.19. The stock had a trading volume of 2,221,722 shares, compared to its average volume of 2,692,063. 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 company has a market capitalization of $20.79 billion, a price-to-earnings ratio of 16.73, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The firm has a 50-day moving average of $203.36 and a 200-day moving average of $225.80.

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 (EPS) 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 return on equity of 17.56% and a net margin of 32.41%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.50 earnings per share. Equities analysts expect that First Solar, Inc. will post 13.15 EPS for the current 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.