Mizuho Securities USA LLC Purchases 98,724 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mizuho Securities USA LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1,196.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,972 shares of the solar cell manufacturer’s stock after acquiring an additional 98,724 shares during the quarter. Mizuho Securities USA LLC’s holdings in First Solar were worth $26,683,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in FSLR. Electron Capital Partners LLC boosted its stake in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after acquiring an additional 516,783 shares during the last quarter. Anomaly Capital Management LP purchased a new position in First Solar during the second quarter valued at $53,752,000. International Assets Investment Management LLC increased its holdings in First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after acquiring an additional 216,640 shares during the last quarter. Finally, Canada Pension Plan Investment Board lifted its stake in First Solar by 2,429.1% in the 2nd quarter. Canada Pension Plan Investment Board now owns 174,530 shares of the solar cell manufacturer’s stock worth $39,350,000 after purchasing an additional 167,629 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FSLR. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday. Bank of America cut their price target on First Solar from $321.00 to $269.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price objective (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, Guggenheim lowered their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research report 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 given a strong buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target of $280.50.

First Solar Trading Down 2.4 %

NASDAQ:FSLR opened at $190.45 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 simple moving average of $216.28 and a 200-day simple moving average of $225.23. First Solar, Inc. has a one year low of $135.88 and a one year high of $306.77. The firm has a market cap of $20.39 billion, a P/E ratio of 16.40, a P/E/G ratio of 0.32 and a beta of 1.48.

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

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.