D.A. Davidson & CO. Buys Shares of 6,300 First Solar, Inc. (FSLR)

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D.A. Davidson & CO. bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor bought 6,300 shares of the solar cell manufacturer’s stock, valued at approximately $305,000.

A number of other large investors also recently added to or reduced their stakes in the stock. Vident Investment Advisory LLC raised its stake in First Solar by 2.2% during the 2nd quarter. Vident Investment Advisory LLC now owns 53,443 shares of the solar cell manufacturer’s stock valued at $2,814,000 after purchasing an additional 1,162 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in First Solar by 1.3% during the 3rd quarter. Canada Pension Plan Investment Board now owns 92,600 shares of the solar cell manufacturer’s stock valued at $4,484,000 after purchasing an additional 1,200 shares during the last quarter. Investec Asset Management LTD raised its stake in First Solar by 10.4% during the 2nd quarter. Investec Asset Management LTD now owns 13,269 shares of the solar cell manufacturer’s stock valued at $699,000 after purchasing an additional 1,249 shares during the last quarter. Malaga Cove Capital LLC raised its stake in First Solar by 6.8% during the 3rd quarter. Malaga Cove Capital LLC now owns 21,450 shares of the solar cell manufacturer’s stock valued at $1,056,000 after purchasing an additional 1,359 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in First Solar by 1.2% during the 2nd quarter. Legal & General Group Plc now owns 121,473 shares of the solar cell manufacturer’s stock valued at $6,397,000 after purchasing an additional 1,443 shares during the last quarter. Hedge funds and other institutional investors own 52.17% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. BidaskClub upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Saturday, August 11th. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a research note on Wednesday, September 26th. Argus upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a research note on Tuesday. Goldman Sachs Group upgraded shares of First Solar from a “sell” rating to a “neutral” rating and increased their price objective for the company from $39.00 to $46.00 in a research note on Monday. Finally, JMP Securities upgraded shares of First Solar from an “underperform” rating to a “market perform” rating in a research note on Friday, October 26th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $67.47.

Shares of First Solar stock opened at $43.71 on Friday. The stock has a market cap of $4.66 billion, a P/E ratio of 72.95, a PEG ratio of 1.83 and a beta of 1.32. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09. First Solar, Inc. has a 12-month low of $36.51 and a 12-month high of $81.72.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.09. The business had revenue of $676.22 million during the quarter, compared to analysts’ expectations of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. As a group, equities research analysts forecast that First Solar, Inc. will post 1.51 EPS for the current fiscal year.

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About First Solar

First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.

Further Reading: Quiet Period

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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