Virtu Financial LLC Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Virtu Financial LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 38.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,041 shares of the solar cell manufacturer’s stock after purchasing an additional 2,235 shares during the quarter. Virtu Financial LLC’s holdings in First Solar were worth $2,006,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Electron Capital Partners LLC lifted 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 valued at $1,729,223,000 after acquiring an additional 7,660,409 shares during the last quarter. State Street Corp boosted its stake in First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after buying an additional 108,984 shares during the period. Geode Capital Management LLC increased its position in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after acquiring an additional 24,143 shares during the last quarter. Wellington Management Group LLP raised 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 acquiring an additional 904,498 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $196.32 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 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 cap of $21.02 billion, a PE ratio of 16.91, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The company’s 50 day simple moving average is $200.17 and its 200-day simple moving average is $224.38.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the firm earned $2.50 EPS. The business’s revenue was up 10.7% on a year-over-year basis. As a group, equities analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently commented on FSLR. William Blair started coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Evercore ISI dropped their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Guggenheim reduced their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Barclays lowered their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Finally, Royal Bank of Canada reduced their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Four 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. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $280.71.

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.