Bouvel Investment Partners LLC Has $2.91 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Bouvel Investment Partners LLC lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.1% during the fourth quarter, HoldingsChannel reports. The fund owned 16,514 shares of the solar cell manufacturer’s stock after purchasing an additional 185 shares during the quarter. Bouvel Investment Partners LLC’s holdings in First Solar were worth $2,910,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Beech Hill Advisors Inc. raised its stake in shares of First Solar by 2.6% during the 4th quarter. Beech Hill Advisors Inc. now owns 27,123 shares of the solar cell manufacturer’s stock worth $4,780,000 after purchasing an additional 683 shares in the last quarter. Mirador Capital Partners LP increased its holdings in First Solar by 34.6% in the fourth quarter. Mirador Capital Partners LP now owns 2,275 shares of the solar cell manufacturer’s stock worth $401,000 after buying an additional 585 shares during the last quarter. Assenagon Asset Management S.A. raised its position in First Solar by 340.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 206,743 shares of the solar cell manufacturer’s stock valued at $36,436,000 after acquiring an additional 159,845 shares in the last quarter. Board of the Pension Protection Fund bought a new stake in First Solar in the fourth quarter worth approximately $705,000. Finally, Leibman Financial Services Inc. grew its position in First Solar by 15.2% in the fourth quarter. Leibman Financial Services Inc. now owns 17,226 shares of the solar cell manufacturer’s stock worth $3,036,000 after acquiring an additional 2,269 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $190.89 on Friday. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The company’s fifty day moving average price is $190.20 and its 200-day moving average price is $210.03. The firm has a market capitalization of $20.44 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 0.21 and a beta of 1.49. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its 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 business 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%. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm posted $2.50 earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on FSLR. Royal Bank of Canada reduced their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. Mizuho cut their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Guggenheim cut their price objective on First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Evercore ISI lowered their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and a consensus target price of $277.75.

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.