Orion Portfolio Solutions LLC Trims Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Orion Portfolio Solutions LLC lowered its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,138 shares of the solar cell manufacturer’s stock after selling 399 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in First Solar were worth $783,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV boosted its stake in shares of First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the period. Davis Investment Partners LLC boosted its position in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after buying an additional 46 shares during the period. Oregon Public Employees Retirement Fund boosted its position in First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 49 shares during the period. Gilman Hill Asset Management LLC increased its position in shares of First Solar by 2.8% during the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the period. Finally, Covestor Ltd raised its stake in shares of First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $190.53 on Tuesday. The firm has a market capitalization of $20.40 billion, a PE ratio of 16.41, a price-to-earnings-growth ratio of 0.35 and a beta of 1.46. 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 company’s fifty day moving average price is $198.76 and its 200-day moving average price is $222.46. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FSLR. Wells Fargo & Company dropped their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Piper Sandler raised their price target on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. The Goldman Sachs Group lowered their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley reduced their price target 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. Finally, Roth Mkm lowered their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research report on Tuesday, October 15th. Four 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. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.