BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $9.62 Million Position in First Solar, Inc. (NASDAQ:FSLR)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 98.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,568 shares of the solar cell manufacturer’s stock after acquiring an additional 19,093 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in First Solar were worth $9,620,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FSLR. Janus Henderson Group PLC raised its stake in First Solar by 6.9% during the first quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock worth $3,019,000 after acquiring an additional 1,161 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of First Solar by 1,400.4% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after purchasing an additional 22,392 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock worth $928,000 after purchasing an additional 2,753 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of First Solar by 54.9% during the second quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock worth $383,000 after purchasing an additional 602 shares during the last quarter. Finally, First Hawaiian Bank bought a new stake in shares of First Solar during the second quarter worth $537,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on FSLR shares. Mizuho decreased their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price on the stock. Bank of America decreased their target price on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Seaport Res Ptn upgraded First Solar to a “hold” rating in a report on Tuesday, November 5th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Trading Up 3.5 %

NASDAQ FSLR opened at $199.27 on Monday. The firm has a market cap of $21.33 billion, a P/E ratio of 17.16, a P/E/G ratio of 0.35 and a beta of 1.48. 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 stock’s 50-day moving average is $208.12 and its 200-day moving average is $225.68. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77.

First Solar (NASDAQ:FSLR) last released 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). 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%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 EPS. Sell-side analysts anticipate that First Solar, Inc. will post 13.15 earnings per share 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.