True North Advisors LLC Boosts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

True North Advisors LLC raised its position in First Solar, Inc. (NASDAQ:FSLR) by 58.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,347 shares of the solar cell manufacturer’s stock after purchasing an additional 497 shares during the period. True North Advisors LLC’s holdings in First Solar were worth $237,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its position in shares of First Solar by 125.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 6,513 shares of the solar cell manufacturer’s stock valued at $1,148,000 after purchasing an additional 3,618 shares during the period. SG Americas Securities LLC boosted its stake in First Solar by 92.8% in the 4th quarter. SG Americas Securities LLC now owns 64,339 shares of the solar cell manufacturer’s stock worth $11,339,000 after buying an additional 30,969 shares during the last quarter. Viking Fund Management LLC grew its holdings in First Solar by 88.9% in the 4th quarter. Viking Fund Management LLC now owns 17,000 shares of the solar cell manufacturer’s stock valued at $2,996,000 after buying an additional 8,000 shares during the period. Fort Washington Investment Advisors Inc. OH increased its stake in shares of First Solar by 7.1% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 1,874 shares of the solar cell manufacturer’s stock valued at $330,000 after acquiring an additional 124 shares during the last quarter. Finally, Chesley Taft & Associates LLC lifted its holdings in shares of First Solar by 4.0% during the 4th quarter. Chesley Taft & Associates LLC now owns 10,730 shares of the solar cell manufacturer’s stock worth $1,891,000 after acquiring an additional 413 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

First Solar stock opened at $174.11 on Friday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market cap of $18.64 billion, a P/E ratio of 15.00, a price-to-earnings-growth ratio of 0.21 and a beta of 1.49. The stock has a 50 day moving average of $189.56 and a 200-day moving average of $208.59.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate 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%. First Solar’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.50 earnings per share. On average, analysts expect that First Solar, Inc. will post 13.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on FSLR shares. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and boosted their target price for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Evercore ISI dropped their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Guggenheim reiterated a “buy” rating and issued a $335.00 target price on shares of First Solar in a report on Wednesday. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Finally, Piper Sandler raised their price objective on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Three investment 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, First Solar has a consensus rating of “Moderate Buy” and an average target price of $277.75.

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.