Integrated Wealth Concepts LLC Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Integrated Wealth Concepts LLC increased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 236.6% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,470 shares of the solar cell manufacturer's stock after buying an additional 12,983 shares during the period. Integrated Wealth Concepts LLC's holdings in First Solar were worth $4,607,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Investment Management Corp of Ontario grew its holdings in First Solar by 169.9% during the 3rd quarter. Investment Management Corp of Ontario now owns 6,027 shares of the solar cell manufacturer's stock valued at $1,503,000 after buying an additional 3,794 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of First Solar by 11,377.2% in the third quarter. Itau Unibanco Holding S.A. now owns 19,167 shares of the solar cell manufacturer's stock valued at $4,781,000 after acquiring an additional 19,000 shares in the last quarter. Hilltop Holdings Inc. acquired a new stake in shares of First Solar during the third quarter valued at $316,000. Cinctive Capital Management LP increased its position in First Solar by 63.0% during the 3rd quarter. Cinctive Capital Management LP now owns 18,512 shares of the solar cell manufacturer's stock worth $4,618,000 after purchasing an additional 7,155 shares in the last quarter. Finally, Clean Energy Transition LLP raised its stake in First Solar by 37.8% in the 3rd quarter. Clean Energy Transition LLP now owns 686,700 shares of the solar cell manufacturer's stock valued at $171,290,000 after purchasing an additional 188,205 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Down 1.8 %

Shares of FSLR stock traded down $3.64 during trading hours on Thursday, reaching $197.93. The company had a trading volume of 1,674,917 shares, compared to its average volume of 2,521,917. The company has a market capitalization of $21.19 billion, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 0.36 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The stock's fifty day simple moving average is $205.75 and its 200 day simple moving average is $225.91.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings data 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 analyst estimates 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 was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $2.50 EPS. As a group, sell-side analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FSLR. BMO Capital Markets reiterated an "outperform" rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Jefferies Financial Group lowered 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 note on Thursday, October 10th. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research note on Wednesday, October 9th. Morgan Stanley lowered their price objective on First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Finally, Susquehanna reduced their target price on First Solar from $280.00 to $252.00 and set a "positive" rating on the stock 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 given a strong buy rating to the company. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $280.71.

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.