OVERSEA CHINESE BANKING Corp Ltd Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

OVERSEA CHINESE BANKING Corp Ltd trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.2% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,897 shares of the solar cell manufacturer’s stock after selling 287 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in First Solar were worth $3,217,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank acquired a new stake in First Solar during the 3rd quarter worth $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC purchased a new position in shares of First Solar in the second quarter worth about $36,000. Finally, Itau Unibanco Holding S.A. acquired a new position in First Solar during the second quarter worth about $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Seaport Res Ptn upgraded shares of First Solar to a “hold” rating in a report on Tuesday, November 5th. Roth Mkm lowered their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. The Goldman Sachs Group cut their target price on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Oppenheimer lifted their price target on First Solar from $325.00 to $326.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. Finally, UBS Group upped their price objective on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Four research 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Stock Down 6.0 %

Shares of NASDAQ:FSLR opened at $182.26 on Wednesday. The firm has a market capitalization of $19.51 billion, a PE ratio of 15.70, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 1 year low of $129.50 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. The firm’s 50-day moving average is $217.70 and its two-hundred day moving average is $225.68.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. Analysts predict that First Solar, Inc. will post 13.16 EPS for the current 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.