Pathstone Holdings LLC Trims Stake in First Solar, Inc. (NASDAQ:FSLR)

Pathstone Holdings LLC lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 2.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,764 shares of the solar cell manufacturer’s stock after selling 484 shares during the quarter. Pathstone Holdings LLC’s holdings in First Solar were worth $4,431,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Electron Capital Partners LLC grew its position in First Solar by 81,947.0% during the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the period. Dimensional Fund Advisors LP raised its holdings in First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after purchasing an additional 64,265 shares during the period. Bank of New York Mellon Corp boosted its position in First Solar by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after purchasing an additional 2,378 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after purchasing an additional 516,783 shares during the period. Finally, DekaBank Deutsche Girozentrale increased its position in shares of First Solar by 4.7% in the third quarter. DekaBank Deutsche Girozentrale now owns 524,203 shares of the solar cell manufacturer’s stock valued at $134,476,000 after buying an additional 23,393 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

NASDAQ:FSLR opened at $186.05 on Friday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The stock’s fifty day moving average is $212.65 and its two-hundred day moving average is $225.56. The company has a market capitalization of $19.92 billion, a P/E ratio of 16.02, a P/E/G ratio of 0.32 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Equities analysts expect that First Solar, Inc. will post 13.15 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on FSLR. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, August 1st. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and lifted their target price for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. UBS Group boosted their target price on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Barclays decreased their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Finally, Evercore ISI reduced 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. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

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.