Kemnay Advisory Services Inc. purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, HoldingsChannel reports. The institutional investor purchased 18,423 shares of the solar cell manufacturer’s stock, valued at approximately $1,244,000.
Other institutional investors also recently added to or reduced their stakes in the company. OppenheimerFunds Inc. boosted its holdings in First Solar by 254.0% during the fourth quarter. OppenheimerFunds Inc. now owns 1,012,954 shares of the solar cell manufacturer’s stock worth $68,395,000 after purchasing an additional 726,830 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in First Solar by 468.1% during the fourth quarter. Renaissance Technologies LLC now owns 656,700 shares of the solar cell manufacturer’s stock worth $44,340,000 after purchasing an additional 541,100 shares during the last quarter. Key Square Capital Management LLC acquired a new position in First Solar during the third quarter worth $23,621,000. State of Tennessee Treasury Department boosted its holdings in First Solar by 711.7% during the fourth quarter. State of Tennessee Treasury Department now owns 250,000 shares of the solar cell manufacturer’s stock worth $16,880,000 after purchasing an additional 219,200 shares during the last quarter. Finally, Bogle Investment Management L P DE acquired a new position in First Solar during the fourth quarter worth $13,233,000. Institutional investors own 52.78% of the company’s stock.
Several research analysts recently commented on FSLR shares. Standpoint Research upgraded shares of First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 target price for the company in a report on Wednesday. Roth Capital set a $80.00 target price on shares of First Solar and gave the stock a “buy” rating in a report on Monday, December 11th. ValuEngine cut shares of First Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st. Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of First Solar in a report on Friday, December 1st. Finally, Deutsche Bank increased their target price on shares of First Solar from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Wednesday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. First Solar currently has a consensus rating of “Buy” and a consensus target price of $69.83.
Shares of First Solar, Inc. (FSLR) opened at $67.90 on Friday. The company has a current ratio of 5.89, a quick ratio of 5.63 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 1 year low of $25.56 and a 1 year high of $76.61. The stock has a market cap of $7,071.89, a price-to-earnings ratio of -42.44, a price-to-earnings-growth ratio of 3.95 and a beta of 2.08.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. First Solar had a negative net margin of 5.63% and a positive return on equity of 5.17%. The firm had revenue of $339.00 million for the quarter, compared to analyst estimates of $459.93 million. During the same period in the prior year, the firm posted $1.24 earnings per share. The company’s quarterly revenue was down 29.4% compared to the same quarter last year. equities analysts anticipate that First Solar, Inc. will post 1.67 EPS for the current fiscal year.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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