City Holding Co. Purchases 765 Shares of First Solar, Inc. (NASDAQ:FSLR)

City Holding Co. raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 84.9% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,666 shares of the solar cell manufacturer’s stock after buying an additional 765 shares during the quarter. City Holding Co.’s holdings in First Solar were worth $294,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Electron Capital Partners LLC grew its holdings in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. increased its position in First Solar by 1,757.2% in the 3rd 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 buying an additional 516,783 shares in the last quarter. Merewether Investment Management LP raised its stake in First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after buying an additional 293,400 shares during the period. Finally, Erste Asset Management GmbH bought a new position in First Solar in the third quarter worth approximately $67,652,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on FSLR shares. Morgan Stanley lowered their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Wells Fargo & Company reduced their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Barclays lowered their target price 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, Mizuho cut their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Price Performance

NASDAQ FSLR opened at $192.88 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market cap of $20.65 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The firm’s 50-day simple moving average is $190.16 and its two-hundred day simple moving average is $209.36.

First Solar (NASDAQ:FSLR) last announced its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts predict that First Solar, Inc. will post 13.09 earnings per share for the current 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.