Courier Capital LLC Sells 3,474 Shares of First Solar, Inc. (NASDAQ:FSLR)

Courier Capital LLC lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 26.0% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,882 shares of the solar cell manufacturer’s stock after selling 3,474 shares during the period. Courier Capital LLC’s holdings in First Solar were worth $1,742,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new position in shares of First Solar during the third quarter worth approximately $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter valued at approximately $29,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar during the second quarter worth $38,000. Finally, Larson Financial Group LLC boosted its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of analyst reports. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Tuesday, October 29th. Robert W. Baird reduced their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Jefferies Financial Group lowered their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. BMO Capital Markets restated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Price Performance

NASDAQ FSLR traded down $5.63 during trading hours on Monday, reaching $183.61. The company’s stock had a trading volume of 1,487,211 shares, compared to its average volume of 1,720,038. The firm has a market capitalization of $19.66 billion, a price-to-earnings ratio of 15.81, a P/E/G ratio of 0.35 and a beta of 1.49. The company’s 50-day moving average is $191.64 and its two-hundred day moving average is $211.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last announced 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the business earned $2.50 EPS. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts predict that First Solar, Inc. will post 13.15 EPS for the current year.

First Solar 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.