First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by BCGM Wealth Management LLC

BCGM Wealth Management LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 1.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 6,696 shares of the solar cell manufacturer’s stock after purchasing an additional 76 shares during the period. BCGM Wealth Management LLC’s holdings in First Solar were worth $1,670,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Electron Capital Partners LLC raised its stake in First Solar by 81,947.0% in the 2nd 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 purchasing an additional 7,660,409 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of 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 buying an additional 516,783 shares during the last quarter. Anomaly Capital Management LP purchased a new position in shares of First Solar during the second quarter valued at approximately $53,752,000. International Assets Investment Management LLC boosted its position in First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after acquiring an additional 216,640 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after acquiring an additional 167,629 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on FSLR. UBS Group upped their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Jefferies Financial Group cut their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday, October 29th. Four investment 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 stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $280.50.

First Solar Price Performance

Shares of FSLR opened at $190.45 on Friday. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock has a fifty day moving average price of $216.28 and a 200 day moving average price of $225.57. The company has a market cap of $20.39 billion, a P/E ratio of 16.40, a PEG ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.50 EPS. On average, research analysts forecast that First Solar, Inc. will post 13.16 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.