Metis Global Partners LLC Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Metis Global Partners LLC boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 9.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,154 shares of the solar cell manufacturer’s stock after acquiring an additional 1,460 shares during the period. Metis Global Partners LLC’s holdings in First Solar were worth $4,279,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Electron Capital Partners LLC raised its holdings 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 worth $1,729,223,000 after purchasing an additional 7,660,409 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its position in First Solar by 1,757.2% during 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 acquiring an additional 516,783 shares in the last quarter. Anomaly Capital Management LP purchased a new position in shares of First Solar during the 2nd quarter worth approximately $53,752,000. International Assets Investment Management LLC raised its position in shares of First Solar by 24,844.0% in the 3rd 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 in the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in shares of 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 valued at $39,350,000 after purchasing an additional 167,629 shares during the period. 92.08% of the stock is owned by institutional investors.

First Solar Stock Up 7.1 %

First Solar stock opened at $195.14 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 fifty day moving average of $216.64 and a 200 day moving average of $225.16. 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 stock has a market cap of $20.89 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 0.32 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 business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. As a group, sell-side analysts predict that First Solar, Inc. will post 13.16 EPS for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on FSLR. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered their price target 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. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. The Goldman Sachs Group lowered their target price 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, Wells Fargo & Company cut their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $280.50.

First Solar 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.