First Solar, Inc. (NASDAQ:FSLR) Stake Lowered by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 18.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,871 shares of the solar cell manufacturer’s stock after selling 1,100 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in First Solar were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of FSLR. State Street Corp lifted its stake in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after acquiring an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after purchasing an additional 24,143 shares in the last quarter. Wellington Management Group LLP lifted 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 purchasing an additional 904,498 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in First Solar by 0.9% in the third 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 purchasing an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in First Solar by 7.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock worth $331,924,000 after buying an additional 90,249 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on FSLR shares. Wells Fargo & Company decreased their price target on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Guggenheim reaffirmed a “buy” rating and set a $335.00 target price on shares of First Solar in a research report on Wednesday, January 22nd. JPMorgan Chase & Co. dropped their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research report on Wednesday. The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Royal Bank of Canada dropped their target price on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday. Three research 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 MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.00.

First Solar Stock Up 6.4 %

NASDAQ FSLR opened at $156.84 on Thursday. First Solar, Inc. has a 1-year low of $144.28 and a 1-year high of $306.77. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 13.51, a PEG ratio of 0.19 and a beta of 1.47. The stock’s 50 day moving average is $174.00 and its two-hundred day moving average is $199.08. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. Equities analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal 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.