Kayne Anderson Capital Advisors LP Has $6.99 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Kayne Anderson Capital Advisors LP raised its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 25.4% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 28,001 shares of the solar cell manufacturer's stock after buying an additional 5,667 shares during the quarter. Kayne Anderson Capital Advisors LP's holdings in First Solar were worth $6,985,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of FSLR. BCGM Wealth Management LLC raised its holdings in First Solar by 1.1% during the third quarter. BCGM Wealth Management LLC now owns 6,696 shares of the solar cell manufacturer's stock worth $1,670,000 after purchasing an additional 76 shares in the last quarter. Natixis Advisors LLC boosted its position in shares of First Solar by 15.2% during the 3rd quarter. Natixis Advisors LLC now owns 72,117 shares of the solar cell manufacturer's stock valued at $17,989,000 after purchasing an additional 9,537 shares in the last quarter. Mizuho Securities USA LLC grew its position in First Solar by 1,196.9% in the third quarter. Mizuho Securities USA LLC now owns 106,972 shares of the solar cell manufacturer's stock worth $26,683,000 after buying an additional 98,724 shares during the last quarter. Empowered Funds LLC boosted its position in shares of First Solar by 404.0% in the 3rd quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer's stock valued at $1,847,000 after purchasing an additional 5,935 shares during the period. Finally, Empirical Finance LLC increased its stake in First Solar by 8.5% in the 3rd quarter. Empirical Finance LLC now owns 1,730 shares of the solar cell manufacturer's stock worth $432,000 after purchasing an additional 136 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

First Solar stock traded up $5.11 on Monday, reaching $195.56. 1,738,221 shares of the stock were exchanged, compared to its average volume of 2,532,189. The stock has a market cap of $20.94 billion, a PE ratio of 16.84, a PEG ratio of 0.33 and a beta of 1.48. The firm has a fifty day moving average price of $216.08 and a two-hundred day moving average price of $226.02. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly 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). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.50 earnings per share. Sell-side analysts anticipate that First Solar, Inc. will post 13.16 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently issued reports on FSLR. Wells Fargo & Company cut their price target on shares of First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a report on Tuesday, November 12th. Hsbc Global Res upgraded First Solar to a "strong-buy" rating in a report on Wednesday, October 9th. Guggenheim decreased their price objective on First Solar from $368.00 to $335.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Finally, DZ Bank upgraded First Solar from a "hold" rating to a "buy" rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price 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.