First Solar, Inc. (NASDAQ:FSLR) Shares Acquired by Quantinno Capital Management LP

Quantinno Capital Management LP boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 20.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,177 shares of the solar cell manufacturer’s stock after acquiring an additional 372 shares during the period. Quantinno Capital Management LP’s holdings in First Solar were worth $543,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Quarry LP lifted its position in shares of First Solar by 16.9% during the third quarter. Quarry LP now owns 11,041 shares of the solar cell manufacturer’s stock worth $2,754,000 after purchasing an additional 1,594 shares during the last quarter. Royal London Asset Management Ltd. lifted its holdings in First Solar by 1.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 47,840 shares of the solar cell manufacturer’s stock worth $11,933,000 after buying an additional 606 shares during the last quarter. Merewether Investment Management LP grew its position in shares of First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after acquiring an additional 293,400 shares in the last quarter. Morse Asset Management Inc increased its holdings in shares of First Solar by 11.4% in the 3rd quarter. Morse Asset Management Inc now owns 12,534 shares of the solar cell manufacturer’s stock valued at $3,126,000 after acquiring an additional 1,284 shares during the last quarter. Finally, Ingalls & Snyder LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at approximately $225,000. 92.08% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Bank of America lowered their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Susquehanna dropped their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. The Goldman Sachs Group dropped their price target on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $280.71.

First Solar Stock Performance

Shares of FSLR opened at $199.67 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm’s 50 day moving average is $199.54 and its 200-day moving average is $223.45. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The stock has a market capitalization of $21.38 billion, a P/E ratio of 17.20, a P/E/G ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.50 EPS. Equities research analysts anticipate that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

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.