Gilman Hill Asset Management LLC Acquires 1,065 Shares of First Solar, Inc. (NASDAQ:FSLR)

Gilman Hill Asset Management LLC grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 58.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,890 shares of the solar cell manufacturer’s stock after purchasing an additional 1,065 shares during the period. Gilman Hill Asset Management LLC’s holdings in First Solar were worth $509,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FSLR. Electron Capital Partners LLC boosted its holdings in First Solar by 81,947.0% in the second quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the last quarter. Merewether Investment Management LP boosted its position in First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after purchasing an additional 293,400 shares during the last quarter. Finally, Erste Asset Management GmbH bought a new stake in First Solar during the third quarter valued at approximately $67,652,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

NASDAQ:FSLR opened at $192.88 on Tuesday. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The stock has a market cap of $20.65 billion, a PE ratio of 16.61, a P/E/G ratio of 0.21 and a beta of 1.49. 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 stock has a 50 day moving average price of $190.16 and a 200 day moving average price of $209.36.

First Solar (NASDAQ:FSLR) last issued 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). The company had revenue of $887.70 million during 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 revenue was up 10.7% compared to the same quarter last year. During the same period last year, the business earned $2.50 earnings per share. Equities research analysts expect that First Solar, Inc. will post 13.09 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on FSLR. The Goldman Sachs Group reduced their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Truist Financial assumed coverage on shares of First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. Jefferies Financial Group reduced their price objective 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. Finally, Piper Sandler lifted their target price on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

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.