First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Jennison Associates LLC

Jennison Associates LLC raised its stake in First Solar, Inc. (NASDAQ:FSLR) by 32.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,289 shares of the solar cell manufacturer’s stock after buying an additional 11,894 shares during the quarter. Jennison Associates LLC’s holdings in First Solar were worth $12,045,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in FSLR. Premier Fund Managers Ltd increased its holdings in First Solar by 42.8% in the 3rd quarter. Premier Fund Managers Ltd now owns 62,479 shares of the solar cell manufacturer’s stock valued at $15,974,000 after purchasing an additional 18,717 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in shares of First Solar by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after buying an additional 777 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of First Solar in the 3rd quarter valued at $4,053,000. Banque Cantonale Vaudoise lifted its stake in First Solar by 26.4% during the 3rd quarter. Banque Cantonale Vaudoise now owns 26,047 shares of the solar cell manufacturer’s stock worth $6,497,000 after acquiring an additional 5,442 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its holdings in First Solar by 52.5% during the 3rd quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock valued at $508,000 after acquiring an additional 701 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FSLR. BMO Capital Markets reissued an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. William Blair initiated coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Clarkson Capital started coverage on First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective on the stock. Roth Mkm decreased their target price on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. Finally, Jefferies Financial Group cut their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. 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 company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $186.05 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 market capitalization of $19.92 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.33 and a beta of 1.48. The company has a 50-day simple moving average of $212.65 and a 200-day simple moving average of $225.35. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share 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 return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business posted $2.50 earnings per share. On average, 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.