Kovitz Investment Group Partners LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Kovitz Investment Group Partners LLC acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,660 shares of the solar cell manufacturer's stock, valued at approximately $913,000.

A number of other large investors have also recently made changes to their positions in FSLR. AlphaMark Advisors LLC acquired a new stake in First Solar in the third quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the 3rd quarter valued at about $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the 3rd quarter worth about $29,000. Atlas Capital Advisors LLC lifted its stake in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock worth $31,000 after purchasing an additional 111 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in First Solar by 214.0% in the third 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 in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Stock Performance

FSLR traded down $4.72 during trading on Thursday, reaching $196.28. The company's stock had a trading volume of 1,027,711 shares, compared to its average volume of 2,510,835. 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's fifty day moving average price is $200.95 and its 200-day moving average price is $224.58. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last posted 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 business had revenue of $887.70 million during the quarter, compared to analysts' expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm's quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. On average, equities analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Roth Mkm cut their price objective on shares of First Solar from $320.00 to $280.00 and set a "buy" rating on the stock in a report on Tuesday, October 15th. Truist Financial assumed coverage on shares of First Solar in a research note on Thursday, September 26th. They set a "buy" rating and a $300.00 price target on the stock. Royal Bank of Canada reduced their price target on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating for the company in a research report on Wednesday, October 30th. Wells Fargo & Company dropped their price objective on First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. Finally, Citigroup upgraded First Solar from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, First Solar presently has an average rating of "Moderate Buy" and a consensus target price of $280.71.

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.