KBC Group NV Reduces Position in First Solar, Inc. (NASDAQ:FSLR)

KBC Group NV lowered its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,138 shares of the solar cell manufacturer's stock after selling 3,961 shares during the quarter. KBC Group NV owned 0.07% of First Solar worth $19,242,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new position in First Solar during the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new position in First Solar during the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC raised its position in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of First Solar in the 2nd quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in shares of First Solar in the 2nd quarter valued at about $38,000. Institutional investors own 92.08% of the company's stock.

First Solar Trading Down 2.4 %

NASDAQ:FSLR opened at $190.45 on Friday. The firm has a market cap of $20.39 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.32 and a beta of 1.48. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The firm's fifty day moving average is $216.28 and its 200-day moving average is $225.23. 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 (NASDAQ:FSLR - Get Free Report) last issued its earnings results 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 the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm'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 business earned $2.50 EPS. Equities analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Citigroup raised shares of First Solar from a "neutral" rating to a "buy" rating and upped their price target for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Jefferies Financial Group decreased their price objective on shares of First Solar from $271.00 to $266.00 and set a "buy" rating for the company in a report on Thursday, October 10th. Wells Fargo & Company lowered their target price on First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Susquehanna reduced their target price on shares of First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. Finally, Roth Mkm dropped their target price on First Solar from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $280.50.

First Solar 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.