First Solar, Inc. (NASDAQ:FSLR) Position Boosted by Viking Fund Management LLC

Viking Fund Management LLC increased its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 88.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,000 shares of the solar cell manufacturer's stock after purchasing an additional 8,000 shares during the quarter. Viking Fund Management LLC's holdings in First Solar were worth $2,996,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of research firms have recently commented on FSLR. Roth Mkm dropped their price objective on First Solar from $320.00 to $280.00 and set a "buy" rating for the company in a report on Tuesday, October 15th. Royal Bank of Canada dropped their price target on First Solar from $315.00 to $280.00 and set an "outperform" rating for the company in a research note on Wednesday, October 30th. Evercore ISI decreased their target price on First Solar from $281.00 to $278.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Barclays cut their price target on shares of First Solar from $290.00 to $275.00 and set an "overweight" rating on the stock in a report on Wednesday, November 13th. Finally, BMO Capital Markets reiterated an "outperform" rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $277.75.

First Solar Stock Down 6.3 %

NASDAQ FSLR traded down $11.61 on Wednesday, hitting $171.90. 4,377,039 shares of the stock traded hands, compared to its average volume of 1,982,095. 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 $190.18 and a 200 day moving average of $209.09. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The company has a market capitalization of $18.40 billion, a P/E ratio of 14.81, a price-to-earnings-growth ratio of 0.22 and a beta of 1.49.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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%. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.50 earnings per share. As a group, analysts expect that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

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.