IFP Advisors Inc Boosts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

IFP Advisors Inc lifted its position in First Solar, Inc. (NASDAQ:FSLR) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,376 shares of the solar cell manufacturer’s stock after purchasing an additional 192 shares during the quarter. IFP Advisors Inc’s holdings in First Solar were worth $244,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Raymond James & Associates lifted its stake in First Solar by 10.1% during the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock valued at $3,253,000 after acquiring an additional 1,197 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in First Solar by 12.1% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 5,912 shares of the solar cell manufacturer’s stock valued at $1,475,000 after purchasing an additional 636 shares during the period. First Trust Direct Indexing L.P. boosted its holdings in First Solar by 12.5% in the third quarter. First Trust Direct Indexing L.P. now owns 2,560 shares of the solar cell manufacturer’s stock valued at $639,000 after purchasing an additional 284 shares during the last quarter. Pinnacle Associates Ltd. grew its position in First Solar by 12.4% during the 3rd quarter. Pinnacle Associates Ltd. now owns 2,213 shares of the solar cell manufacturer’s stock worth $552,000 after purchasing an additional 244 shares during the period. Finally, Gladstone Institutional Advisory LLC raised its stake in shares of First Solar by 33.3% during the 3rd quarter. Gladstone Institutional Advisory LLC now owns 1,739 shares of the solar cell manufacturer’s stock valued at $434,000 after buying an additional 434 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

FSLR has been the topic of a number of recent research reports. Wells Fargo & Company lowered their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Deutsche Bank Aktiengesellschaft set a $265.00 target price on shares of First Solar in a research note on Thursday. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $262.08.

First Solar Stock Down 3.5 %

Shares of NASDAQ:FSLR opened at $136.18 on Monday. First Solar, Inc. has a 52-week low of $133.90 and a 52-week high of $306.77. The stock has a market cap of $14.58 billion, a P/E ratio of 11.73, a PEG ratio of 0.19 and a beta of 1.47. The business has a fifty day moving average of $172.38 and a two-hundred day moving average of $197.69. 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, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, research analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current 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.