First Solar, Inc. (NASDAQ:FSLR) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co increased its holdings in First Solar, Inc. (NASDAQ:FSLR) by 41.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,511 shares of the solar cell manufacturer’s stock after buying an additional 2,210 shares during the period. Fiduciary Trust Co’s holdings in First Solar were worth $1,874,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FSLR. Janus Henderson Group PLC grew its holdings in shares of First Solar by 6.9% during the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock valued at $3,019,000 after purchasing an additional 1,161 shares during the last quarter. Cetera Investment Advisers increased its position in First Solar by 1,400.4% in the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after buying an additional 22,392 shares during the period. Cetera Advisors LLC lifted its stake in First Solar by 100.3% in the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock valued at $928,000 after buying an additional 2,753 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of First Solar by 54.9% during the second quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock valued at $383,000 after acquiring an additional 602 shares during the period. Finally, First Hawaiian Bank bought a new position in shares of First Solar during the second quarter worth about $537,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on FSLR shares. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 target price for the company. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Barclays cut their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Truist Financial initiated coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Morgan Stanley reduced their price objective on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report 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 stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Stock Performance

Shares of FSLR opened at $199.27 on Friday. The company has a 50-day moving average of $208.94 and a two-hundred day moving average of $225.35. The stock has a market cap of $21.33 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the prior year, the business posted $2.50 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that First Solar, Inc. will post 13.15 earnings per share 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.