BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 15,890 Shares of First Solar, Inc. (NASDAQ:FSLR)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,743,813 shares of the solar cell manufacturer’s stock after purchasing an additional 15,890 shares during the period. First Solar makes up approximately 1.1% of BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s investment portfolio, making the stock its 10th largest holding. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in First Solar were worth $434,977,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Western Financial Corp CA acquired a new position in First Solar during the third quarter worth about $1,209,000. Harbour Capital Advisors LLC boosted its position in First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after acquiring an additional 3,607 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management acquired a new stake in First Solar during the 3rd quarter worth about $17,635,000. Sumitomo Mitsui Trust Group Inc. boosted its position in First Solar by 6.4% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock worth $60,898,000 after acquiring an additional 14,597 shares during the period. Finally, Warther Private Wealth LLC acquired a new stake in First Solar during the 3rd quarter worth about $2,655,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $184.84 on Thursday. The business has a fifty day simple moving average of $214.57 and a 200 day simple moving average of $225.70. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The firm has a market capitalization of $19.79 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 0.33 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last announced its quarterly 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the company earned $2.50 earnings per share. The business’s revenue was up 10.7% on a year-over-year basis. Sell-side analysts expect that First Solar, Inc. will post 13.16 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Truist Financial started coverage on First Solar in a report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target for the company. William Blair started coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Morgan Stanley reduced their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $280.50.

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.