Oddo BHF Asset Management Sas Makes New $18.41 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

Oddo BHF Asset Management Sas purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 73,791 shares of the solar cell manufacturer’s stock, valued at approximately $18,406,000. First Solar accounts for about 0.9% of Oddo BHF Asset Management Sas’ investment portfolio, making the stock its 28th largest holding. Oddo BHF Asset Management Sas owned 0.07% of First Solar at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FSLR. Massmutual Trust Co. FSB ADV lifted its stake in First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the last quarter. Davis Investment Partners LLC grew its stake 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 valued at $1,805,000 after buying an additional 46 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in shares of First Solar by 0.5% in the second 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 period. Gilman Hill Asset Management LLC lifted its stake in shares of First Solar by 2.8% in 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 acquiring an additional 50 shares during the last quarter. Finally, Field & Main Bank boosted its holdings in First Solar by 4.1% during the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after acquiring an additional 55 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on FSLR shares. Bank of America decreased their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. William Blair initiated coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating on the stock. Wells Fargo & Company dropped their price target on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Guggenheim decreased their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Barclays lowered their price objective on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, November 13th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $280.71.

First Solar Price Performance

FSLR stock opened at $196.32 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a 50 day moving average price of $200.17 and a 200-day moving average price of $224.38. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The firm has a market capitalization of $21.02 billion, a price-to-earnings ratio of 16.91, a PEG ratio of 0.35 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. During the same period last year, the firm posted $2.50 earnings per share. The company’s revenue was up 10.7% compared to the same quarter last year. Equities research analysts forecast that First Solar, Inc. will post 13.15 EPS 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.