Secure Asset Management LLC Acquires 1,034 Shares of First Solar, Inc. (NASDAQ:FSLR)

Secure Asset Management LLC grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 18.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,687 shares of the solar cell manufacturer’s stock after acquiring an additional 1,034 shares during the quarter. Secure Asset Management LLC’s holdings in First Solar were worth $1,179,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of FSLR. Massmutual Trust Co. FSB ADV lifted its holdings in First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC lifted its stake in shares of First Solar by 0.6% during the 3rd 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 during the last quarter. Gilman Hill Asset Management LLC boosted its holdings in shares of First Solar by 2.8% during the 3rd 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. Field & Main Bank raised its holdings in First Solar by 4.1% in 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. Finally, Covestor Ltd lifted its position in First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after acquiring an additional 55 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the topic of a number of recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Wells Fargo & Company dropped their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Roth Mkm dropped their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $277.75.

First Solar Stock Performance

NASDAQ:FSLR opened at $174.11 on Friday. The company has a market capitalization of $18.64 billion, a PE ratio of 15.00, a P/E/G ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a 50 day simple moving average of $189.56 and a two-hundred day simple moving average of $208.59.

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 the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm earned $2.50 EPS. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. Research analysts anticipate that First Solar, Inc. will post 13.07 earnings per share for the current year.

About First Solar

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.