Qsemble Capital Management LP Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Qsemble Capital Management LP reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 38.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,576 shares of the solar cell manufacturer's stock after selling 2,829 shares during the period. Qsemble Capital Management LP's holdings in First Solar were worth $1,141,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of First Solar during the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the 3rd quarter worth about $25,000. Kennebec Savings Bank acquired a new position in First Solar in the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC grew its holdings 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 buying an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in shares of First Solar in the second quarter valued at approximately $36,000. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. Seaport Res Ptn upgraded shares of First Solar to a "hold" rating in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their price target on shares of First Solar from $250.00 to $240.00 and set an "overweight" rating for the company in a report on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price objective on the stock in a research note on Tuesday, October 29th. Susquehanna dropped their target price on shares of First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. Finally, Oppenheimer increased their price target on First Solar from $325.00 to $326.00 and gave the stock an "outperform" rating in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and a consensus target price of $279.04.

First Solar Price Performance

NASDAQ:FSLR traded up $0.25 during trading hours on Wednesday, hitting $192.57. The stock had a trading volume of 1,713,670 shares, compared to its average volume of 2,524,869. The firm has a market capitalization of $20.62 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company has a 50 day simple moving average of $210.88 and a two-hundred day simple moving average of $225.81. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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