Natixis Advisors LLC Purchases 9,537 Shares of First Solar, Inc. (NASDAQ:FSLR)

Natixis Advisors LLC increased its position in First Solar, Inc. (NASDAQ:FSLR) by 15.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 72,117 shares of the solar cell manufacturer’s stock after purchasing an additional 9,537 shares during the quarter. Natixis Advisors LLC owned approximately 0.07% of First Solar worth $17,989,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of FSLR. Western Financial Corp CA purchased a new stake in First Solar during the third quarter worth $1,209,000. Harbour Capital Advisors LLC grew its position in shares of 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 valued at $1,301,000 after acquiring an additional 3,607 shares during the period. Mivtachim The Workers Social Insurance Fund Ltd. Under Special Management purchased a new position in First Solar in the 3rd quarter valued at about $17,635,000. Sumitomo Mitsui Trust Group Inc. lifted its stake in First Solar by 6.4% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 244,140 shares of the solar cell manufacturer’s stock valued at $60,898,000 after buying an additional 14,597 shares in the last quarter. Finally, Warther Private Wealth LLC purchased a new position in First Solar in the 3rd quarter valued at about $2,655,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 4.2 %

Shares of NASDAQ:FSLR opened at $187.36 on Wednesday. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a market cap of $20.06 billion, a PE ratio of 16.14, a P/E/G ratio of 0.33 and a beta of 1.48. The company’s 50-day moving average price is $215.67 and its 200 day moving average price is $225.99. 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 data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million during 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 business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. Sell-side analysts anticipate that First Solar, Inc. will post 13.16 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on FSLR. Bank of America decreased their target price on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Jefferies Financial Group reduced their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research report on Thursday, October 10th. Piper Sandler reduced their price target on shares of First Solar from $250.00 to $245.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research report on Thursday, August 1st. Finally, Barclays reduced 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 report on Wednesday, November 13th. Four 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 company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $280.50.

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.