Swedbank AB Raises Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Swedbank AB raised its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 26.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,060 shares of the solar cell manufacturer's stock after buying an additional 30,006 shares during the period. Swedbank AB owned 0.13% of First Solar worth $25,037,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Massmutual Trust Co. FSB ADV grew its position in First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer's stock worth $89,000 after acquiring an additional 45 shares during the last quarter. Davis Investment Partners LLC raised its holdings in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer's stock valued at $1,805,000 after buying an additional 46 shares during the last quarter. Gilman Hill Asset Management LLC raised its holdings in First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer's stock valued at $455,000 after buying an additional 50 shares during the last quarter. Covestor Ltd boosted its position in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer's stock worth $229,000 after buying an additional 55 shares during the period. Finally, Field & Main Bank grew its holdings in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer's stock worth $345,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on FSLR shares. Royal Bank of Canada reduced their price objective on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets restated an "outperform" rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Jefferies Financial Group cut their price objective on First Solar from $271.00 to $266.00 and set a "buy" rating on the stock in a research note on Thursday, October 10th. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $276.29.

First Solar Price Performance

NASDAQ FSLR traded down $0.35 on Friday, reaching $167.05. The company's stock had a trading volume of 164,208 shares, compared to its average volume of 2,240,741. The firm's 50 day moving average is $187.26 and its two-hundred day moving average is $206.36. 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 stock has a market cap of $17.88 billion, a PE ratio of 14.35, a PEG ratio of 0.19 and a beta of 1.49. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The firm's revenue for the quarter was up 10.7% compared to the same quarter last year. As a group, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.