First Solar, Inc. (NASDAQ:FSLR) Stake Increased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 7.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 1,330,675 shares of the solar cell manufacturer’s stock after buying an additional 90,249 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in First Solar were worth $331,924,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV raised its position in shares of First Solar by 14.5% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after acquiring an additional 45 shares in the last quarter. Davis Investment Partners LLC raised its holdings in shares of First Solar by 0.6% during the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after purchasing an additional 46 shares during the period. Oregon Public Employees Retirement Fund lifted its position in shares of First Solar by 0.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after buying an additional 49 shares during the last quarter. Gilman Hill Asset Management LLC grew its position in shares of First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after buying an additional 50 shares during the last quarter. Finally, Covestor Ltd raised its stake in First Solar by 6.4% during the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock worth $229,000 after acquiring an additional 55 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Stock Up 3.5 %

FSLR stock opened at $199.27 on Friday. The company has a 50 day moving average of $208.94 and a two-hundred day moving average of $225.35. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 17.16, a PEG ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter last year, the firm earned $2.50 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on FSLR shares. Bank of America lowered their target price on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Clarkson Capital initiated coverage on shares of First Solar in a research report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company. Susquehanna cut their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Finally, Guggenheim lowered their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.04.

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.