McLean Asset Management Corp Has $2.40 Million Position in First Solar, Inc. (NASDAQ:FSLR)

McLean Asset Management Corp lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.6% during the fourth quarter, Holdings Channel reports. The fund owned 13,617 shares of the solar cell manufacturer’s stock after selling 513 shares during the quarter. First Solar comprises 0.7% of McLean Asset Management Corp’s investment portfolio, making the stock its 26th largest position. McLean Asset Management Corp’s holdings in First Solar were worth $2,400,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Pacer Advisors Inc. raised its holdings in First Solar by 16.1% during the fourth quarter. Pacer Advisors Inc. now owns 9,298 shares of the solar cell manufacturer’s stock worth $1,639,000 after buying an additional 1,291 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in First Solar during the fourth quarter worth $1,440,000. Blue Trust Inc. raised its holdings in First Solar by 90.6% during the fourth quarter. Blue Trust Inc. now owns 1,466 shares of the solar cell manufacturer’s stock worth $258,000 after buying an additional 697 shares during the last quarter. PFG Investments LLC raised its holdings in First Solar by 5.2% during the fourth quarter. PFG Investments LLC now owns 6,139 shares of the solar cell manufacturer’s stock worth $1,082,000 after buying an additional 301 shares during the last quarter. Finally, Secure Asset Management LLC raised its holdings in shares of First Solar by 18.3% in the fourth quarter. Secure Asset Management LLC now owns 6,687 shares of the solar cell manufacturer’s stock valued at $1,179,000 after purchasing an additional 1,034 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on FSLR shares. Guggenheim reiterated a “buy” rating and issued a $335.00 target price on shares of First Solar in a report on Wednesday, January 22nd. Susquehanna lowered their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. 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 report on Wednesday, October 30th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, Evercore ISI reduced their price target on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $277.75.

First Solar Trading Down 3.4 %

Shares of FSLR opened at $168.25 on Monday. The firm’s 50 day simple moving average is $189.11 and its 200 day simple moving average is $207.91. The company has a market capitalization of $18.01 billion, a P/E ratio of 14.49, a P/E/G ratio of 0.20 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, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results 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). The company had revenue of $887.70 million during 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%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business earned $2.50 earnings per share. Sell-side analysts forecast that First Solar, Inc. will post 13.07 earnings per share for the current fiscal year.

First Solar 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.