First Solar, Inc. (NASDAQ:FSLR) Stock Holdings Lifted by Merewether Investment Management LP

Merewether Investment Management LP boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 993.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 322,936 shares of the solar cell manufacturer’s stock after buying an additional 293,400 shares during the period. First Solar accounts for about 3.7% of Merewether Investment Management LP’s investment portfolio, making the stock its 10th biggest holding. Merewether Investment Management LP owned approximately 0.30% of First Solar worth $80,553,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in FSLR. AlphaMark Advisors LLC acquired a new position in First Solar during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the third quarter valued at about $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth approximately $29,000. Atlas Capital Advisors LLC grew its stake in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares in the last quarter. Finally, Larson Financial Group LLC increased its holdings in shares of First Solar by 214.0% in the third 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. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FSLR shares. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Barclays decreased their target price on First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Guggenheim dropped their price target on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. William Blair initiated coverage on First Solar in a research report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.71.

First Solar Stock Performance

FSLR opened at $207.51 on Wednesday. The stock’s 50 day simple moving average is $207.29 and its 200 day simple moving average is $226.01. The stock has a market cap of $22.22 billion, a P/E ratio of 17.87, a P/E/G ratio of 0.36 and a beta of 1.46. First Solar, Inc. has a 1-year low of $135.88 and a 1-year 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.

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

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.