First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC lowered its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 72.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,981 shares of the solar cell manufacturer’s stock after selling 10,520 shares during the quarter. Intech Investment Management LLC’s holdings in First Solar were worth $993,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. AlphaMark Advisors LLC acquired a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar in the 3rd quarter worth about $25,000. Kennebec Savings Bank purchased a new stake in First Solar in the 3rd quarter valued at about $29,000. Atlas Capital Advisors LLC increased its stake in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after acquiring an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter worth about $36,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of FSLR stock opened at $192.57 on Thursday. The firm has a fifty day moving average of $210.88 and a two-hundred day moving average of $225.81. The firm has a market cap of $20.62 billion, a P/E ratio of 16.45, a P/E/G ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77. 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 (NASDAQ:FSLR) last posted 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the business posted $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, research analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on FSLR. Truist Financial initiated coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. Piper Sandler cut their target price on First Solar from $245.00 to $210.00 and set an “overweight” rating on the stock in a research report on Friday, November 22nd. Evercore ISI reduced their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Morgan Stanley dropped their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, 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 report on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

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.