Sumitomo Mitsui Trust Group Inc. Buys 14,597 Shares of First Solar, Inc. (NASDAQ:FSLR)

Sumitomo Mitsui Trust Group Inc. raised its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 6.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 244,140 shares of the solar cell manufacturer's stock after purchasing an additional 14,597 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of First Solar worth $60,898,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar in the 3rd quarter valued at $29,000. Atlas Capital Advisors LLC increased its stake 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 worth $31,000 after purchasing an additional 111 shares in the last quarter. Summit Securities Group LLC acquired a new stake in First Solar during the 2nd quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar during the second quarter valued at about $38,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

First Solar stock traded down $4.69 during trading hours on Friday, reaching $190.45. 4,085,516 shares of the company were exchanged, compared to its average volume of 2,535,762. First Solar, Inc. has a 12 month low of $135.88 and a 12 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. The stock has a 50-day moving average of $216.28 and a 200 day moving average of $225.23. The firm has a market cap of $20.39 billion, a price-to-earnings ratio of 16.40, a PEG ratio of 0.32 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for 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%. First Solar's quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 earnings per share. As a group, research analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

FSLR has been the topic of several analyst reports. Citigroup raised shares of 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. Jefferies Financial Group cut their target price on shares of First Solar from $271.00 to $266.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Seaport Res Ptn raised First Solar to a "hold" rating in a research report on Tuesday, November 5th. DZ Bank raised First Solar from a "hold" rating to a "buy" rating and set a $280.00 price target on the stock in a research report on Thursday, August 1st. Finally, Guggenheim reduced their price objective on First Solar from $368.00 to $335.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Four investment 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. According to data from MarketBeat, First Solar has a consensus 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.