Silver Lake Advisory LLC Decreases Position in First Solar, Inc. (NASDAQ:FSLR)

Silver Lake Advisory LLC lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 2.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 21,981 shares of the solar cell manufacturer’s stock after selling 450 shares during the period. First Solar makes up 1.7% of Silver Lake Advisory LLC’s holdings, making the stock its 22nd biggest position. Silver Lake Advisory LLC’s holdings in First Solar were worth $3,874,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in FSLR. AlphaMark Advisors LLC purchased a new position in First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar during the third quarter valued at $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth about $29,000. Larson Financial Group LLC raised its stake in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its holdings in First Solar by 555.6% in the 3rd quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock valued at $59,000 after purchasing an additional 200 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 1.3 %

Shares of FSLR opened at $174.11 on Friday. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The stock has a 50-day moving average price of $189.56 and a 200 day moving average price of $208.59. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a market capitalization of $18.64 billion, a P/E ratio of 15.00, a P/E/G ratio of 0.20 and a beta of 1.49.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $2.50 EPS. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts forecast that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on FSLR shares. Jefferies Financial Group cut their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research report on Thursday, October 10th. Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. The Goldman Sachs Group decreased their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, October 29th. Finally, Evercore ISI lowered their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.