Raymond James Trust N.A. Has $298,000 Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Raymond James Trust N.A. cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 26.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,196 shares of the solar cell manufacturer’s stock after selling 420 shares during the quarter. Raymond James Trust N.A.’s holdings in First Solar were worth $298,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC grew its position 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 valued at $3,019,000 after purchasing an additional 1,161 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of First Solar by 1.7% in the first quarter. California State Teachers Retirement System now owns 167,897 shares of the solar cell manufacturer’s stock worth $28,341,000 after acquiring an additional 2,842 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in shares of First Solar by 175.6% during the first quarter. iA Global Asset Management Inc. now owns 5,685 shares of the solar cell manufacturer’s stock worth $960,000 after acquiring an additional 3,622 shares in the last quarter. Wahed Invest LLC boosted its position in First Solar by 16.1% during the first quarter. Wahed Invest LLC now owns 2,103 shares of the solar cell manufacturer’s stock valued at $355,000 after purchasing an additional 292 shares during the last quarter. Finally, Swedbank AB purchased a new position in First Solar in the first quarter valued at about $21,815,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of several research reports. Evercore ISI reduced their price target on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Wells Fargo & Company decreased their target price on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Susquehanna cut their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group decreased their price objective on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Bank of America cut 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. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $279.04.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $192.57 on Thursday. The firm has a market capitalization of $20.62 billion, a PE ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. The business’s 50 day moving average is $210.88 and its 200-day moving average is $225.81.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results 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 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 firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. Sell-side analysts predict that First Solar, Inc. will post 13.15 earnings per share 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.