Prospera Financial Services Inc Boosts Stake in First Solar, Inc. (NASDAQ:FSLR)

Prospera Financial Services Inc raised its position in First Solar, Inc. (NASDAQ:FSLR) by 52.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,037 shares of the solar cell manufacturer’s stock after buying an additional 701 shares during the period. Prospera Financial Services Inc’s holdings in First Solar were worth $508,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. Mount Yale Investment Advisors LLC increased its stake in First Solar by 35.8% in the 1st quarter. Mount Yale Investment Advisors LLC now owns 8,090 shares of the solar cell manufacturer’s stock valued at $1,366,000 after buying an additional 2,132 shares during the last quarter. Caxton Associates LP bought a new position in shares of First Solar during the 1st quarter valued at approximately $240,000. Bayesian Capital Management LP grew its position in shares of First Solar by 305.1% during the 1st quarter. Bayesian Capital Management LP now owns 15,800 shares of the solar cell manufacturer’s stock valued at $2,667,000 after acquiring an additional 11,900 shares during the period. BROOKFIELD Corp ON grew its position in shares of First Solar by 10.6% during the 1st quarter. BROOKFIELD Corp ON now owns 22,560 shares of the solar cell manufacturer’s stock valued at $3,808,000 after acquiring an additional 2,170 shares during the period. Finally, Janus Henderson Group PLC grew its position in shares of First Solar by 6.9% during the 1st quarter. Janus Henderson Group PLC now owns 17,887 shares of the solar cell manufacturer’s stock valued at $3,019,000 after acquiring an additional 1,161 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of research reports. Jefferies Financial Group reduced 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 report on Thursday, October 10th. Royal Bank of Canada reduced their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Evercore ISI reduced their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, Morgan Stanley cut their price objective 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. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Stock Performance

First Solar stock opened at $186.05 on Friday. The firm’s fifty day moving average price is $212.65 and its 200-day moving average price is $225.56. 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 market cap of $19.92 billion, a P/E ratio of 16.02, a price-to-earnings-growth ratio of 0.32 and a beta of 1.48. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted 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 analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.50 EPS. On average, equities research analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal 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.