FCG Investment Co Reduces Holdings in First Solar, Inc. (NASDAQ:FSLR)

FCG Investment Co reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 31.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,976 shares of the solar cell manufacturer’s stock after selling 1,368 shares during the period. FCG Investment Co’s holdings in First Solar were worth $524,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. Massmutual Trust Co. FSB ADV raised its holdings in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the period. Davis Investment Partners LLC increased its position in First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Gilman Hill Asset Management LLC raised its stake in shares of First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after buying an additional 50 shares during the period. Covestor Ltd lifted its position in shares of First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after buying an additional 55 shares in the last quarter. Finally, Field & Main Bank grew its stake in shares of First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after acquiring an additional 55 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on FSLR shares. Piper Sandler raised their target price on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Roth Mkm reduced their price objective on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Robert W. Baird lowered their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Susquehanna cut their price target on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Finally, BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $277.75.

First Solar Price Performance

First Solar stock opened at $174.11 on Friday. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 15.00, a PEG ratio of 0.21 and a beta of 1.49. The firm’s fifty day moving average is $189.56 and its 200 day moving average is $208.59. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period in the previous year, the business posted $2.50 EPS. The firm’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts forecast that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

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.