First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 24.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,536 shares of the solar cell manufacturer’s stock after selling 29,309 shares during the period. Guinness Asset Management LTD owned approximately 0.09% of First Solar worth $16,134,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of FSLR. AlphaMark Advisors LLC acquired a new position in First Solar during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC purchased a new position in shares of First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the 3rd quarter valued at $29,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter worth $38,000. Finally, Larson Financial Group LLC increased its holdings in First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $192.88 on Monday. The company has a market cap of $20.65 billion, a PE ratio of 16.61, a P/E/G ratio of 0.21 and a beta of 1.49. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The firm has a 50-day simple moving average of $190.18 and a 200 day simple moving average of $209.63. 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 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). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 earnings per share. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.09 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSLR. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research report on Tuesday, October 29th. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. The Goldman Sachs Group dropped their price objective on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Finally, Barclays dropped their price target on shares of First Solar from $290.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 13th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus target price of $277.75.

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.