First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Investment Management Corp of Ontario

Investment Management Corp of Ontario increased its position in First Solar, Inc. (NASDAQ:FSLR) by 169.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,027 shares of the solar cell manufacturer’s stock after buying an additional 3,794 shares during the period. Investment Management Corp of Ontario’s holdings in First Solar were worth $1,503,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Electron Capital Partners LLC raised its holdings in shares of First Solar by 81,947.0% in the 2nd 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 period. Robeco Institutional Asset Management B.V. boosted its stake in First Solar by 1,757.2% during the 3rd 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. Erste Asset Management GmbH bought a new position in shares of First Solar during the third quarter worth about $67,652,000. Anomaly Capital Management LP bought a new position in shares of First Solar in the 2nd quarter worth about $53,752,000. Finally, International Assets Investment Management LLC grew its stake in First Solar by 24,844.0% during the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after buying an additional 216,640 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. William Blair initiated coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a “market perform” rating for the company. Royal Bank of Canada lowered their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Wells Fargo & Company cut their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI dropped their target price on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $280.71.

First Solar Price Performance

FSLR opened at $197.93 on Friday. The firm has a market cap of $21.19 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.36 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 stock’s 50 day simple moving average is $205.75 and its 200 day simple moving average is $225.91. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 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 analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. As a group, analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current 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.