Sigma Planning Corp Raises Position in First Solar, Inc. (NASDAQ:FSLR)

Sigma Planning Corp lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,450 shares of the solar cell manufacturer’s stock after buying an additional 67 shares during the period. Sigma Planning Corp’s holdings in First Solar were worth $362,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. AlphaMark Advisors LLC bought a new stake in shares of First Solar in the 3rd quarter worth $25,000. 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 valued at $31,000 after buying an additional 111 shares during the last quarter. Summit Securities Group LLC purchased a new stake in First Solar in the 2nd quarter valued at about $36,000. Itau Unibanco Holding S.A. purchased a new position in shares of First Solar in the 2nd quarter worth approximately $38,000. Finally, Alta Advisers Ltd bought a new position in shares of First Solar in the second quarter valued at approximately $45,000. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Clarkson Capital assumed coverage on First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price on the stock. Truist Financial initiated coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Guggenheim lowered their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their target price 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. Four equities 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $280.50.

First Solar Stock Performance

First Solar stock opened at $190.45 on Friday. First Solar, Inc. has a 1-year low of $135.88 and a 1-year 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 firm has a market capitalization of $20.39 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. The firm’s 50 day simple moving average is $216.28 and its 200 day simple moving average is $225.23.

First Solar (NASDAQ:FSLR) last released its quarterly 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). The firm had revenue of $887.70 million during 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 company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company posted $2.50 EPS. As a group, analysts expect that First Solar, Inc. will post 13.16 earnings per share for the current fiscal 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.