Stifel Financial Corp Purchases 5,780 Shares of First Solar, Inc. (NASDAQ:FSLR)

Stifel Financial Corp increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 36.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,446 shares of the solar cell manufacturer’s stock after acquiring an additional 5,780 shares during the period. Stifel Financial Corp’s holdings in First Solar were worth $5,350,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FSLR. Quantinno Capital Management LP grew its holdings in shares of First Solar by 20.6% during the third quarter. Quantinno Capital Management LP now owns 2,177 shares of the solar cell manufacturer’s stock worth $543,000 after purchasing an additional 372 shares during the last quarter. Quarry LP grew its holdings in First Solar by 16.9% during the 3rd quarter. Quarry LP now owns 11,041 shares of the solar cell manufacturer’s stock worth $2,754,000 after acquiring an additional 1,594 shares during the last quarter. Royal London Asset Management Ltd. increased its position in First Solar by 1.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 47,840 shares of the solar cell manufacturer’s stock valued at $11,933,000 after acquiring an additional 606 shares in the last quarter. Merewether Investment Management LP raised its stake in shares of 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 acquiring an additional 293,400 shares during the last quarter. Finally, Morse Asset Management Inc lifted its position in shares of First Solar by 11.4% during the third quarter. Morse Asset Management Inc now owns 12,534 shares of the solar cell manufacturer’s stock worth $3,126,000 after purchasing an additional 1,284 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR stock opened at $199.67 on Friday. The stock has a market cap of $21.38 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. The stock has a 50-day moving average price of $199.54 and a two-hundred day moving average price of $223.45. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. 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 (NASDAQ:FSLR) last announced 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 firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. Equities analysts forecast that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Wells Fargo & Company dropped their price objective 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. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a report on Thursday, October 10th. The Goldman Sachs Group dropped their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Roth Mkm reduced their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Finally, Piper Sandler boosted their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $280.71.

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.