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

KBC Group NV reduced its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 36.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,966 shares of the solar cell manufacturer's stock after selling 28,172 shares during the period. KBC Group NV's holdings in First Solar were worth $8,629,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. AlphaMark Advisors LLC bought a new position in First Solar during the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new stake in First Solar in the third quarter worth $25,000. Kennebec Savings Bank bought a new stake in First Solar in the third quarter valued at $29,000. Larson Financial Group LLC increased its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after purchasing an additional 107 shares during the period. Finally, Sound Income Strategies LLC lifted its position in shares of First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer's stock worth $59,000 after purchasing an additional 200 shares during the period. Institutional investors own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Bank of America decreased their price target on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a research note on Tuesday. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating for the company in a research report on Wednesday, January 8th. Mizuho reduced their price target on First Solar from $274.00 to $257.00 and set a "neutral" rating on the stock in a research note on Thursday, October 31st. Hsbc Global Res raised First Solar to a "strong-buy" rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group reduced their target price on shares of First Solar from $311.00 to $279.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $276.29.

First Solar Stock Performance

NASDAQ:FSLR traded up $0.71 during trading hours on Thursday, reaching $166.72. The company had a trading volume of 1,049,670 shares, compared to its average volume of 2,331,621. The firm's 50 day moving average price is $187.57 and its 200-day moving average price is $206.63. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 14.48, a PEG ratio of 0.20 and a beta of 1.49. 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, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million for the quarter, compared to analysts' expectations of $1.07 billion. During the same quarter last year, the company posted $2.50 EPS. The firm's revenue was up 10.7% compared to the same quarter last year. On average, analysts forecast that First Solar, Inc. will post 13.07 EPS for the current year.

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.