Connor Clark & Lunn Investment Management Ltd. lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 730.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 119,425 shares of the solar cell manufacturer’s stock after purchasing an additional 105,050 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.11% of First Solar worth $5,783,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in FSLR. Centaurus Financial Inc. acquired a new position in shares of First Solar in the second quarter worth about $113,000. Flagship Harbor Advisors LLC acquired a new position in shares of First Solar in the second quarter worth about $122,000. NEXT Financial Group Inc acquired a new position in shares of First Solar in the third quarter worth about $162,000. Advisors Asset Management Inc. acquired a new position in shares of First Solar in the second quarter worth about $208,000. Finally, We Are One Seven LLC acquired a new position in shares of First Solar in the third quarter worth about $203,000. 52.17% of the stock is currently owned by institutional investors.
FSLR stock opened at $44.45 on Monday. The company has a quick ratio of 4.14, a current ratio of 4.48 and a debt-to-equity ratio of 0.09. The company has a market cap of $4.66 billion, a P/E ratio of 72.87, a P/E/G ratio of 1.82 and a beta of 1.32. First Solar, Inc. has a 52 week low of $36.51 and a 52 week high of $81.72.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 25th. The solar cell manufacturer reported $0.54 EPS for the quarter, topping the consensus estimate of $0.45 by $0.09. The business had revenue of $676.22 million during the quarter, compared to analysts’ expectations of $683.93 million. First Solar had a negative net margin of 17.98% and a positive return on equity of 1.29%. As a group, analysts anticipate that First Solar, Inc. will post 1.51 earnings per share for the current year.
Several research analysts have commented on FSLR shares. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a report on Friday, October 12th. UBS Group set a $85.00 target price on shares of First Solar and gave the stock a “buy” rating in a report on Friday, October 26th. JPMorgan Chase & Co. set a $75.00 target price on shares of First Solar and gave the stock a “buy” rating in a report on Tuesday, October 30th. Bank of America decreased their target price on shares of First Solar from $63.00 to $53.00 and set a “buy” rating for the company in a report on Monday, October 29th. Finally, BidaskClub cut shares of First Solar from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $68.03.
In related news, insider Raffi Garabedian sold 3,863 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $51.61, for a total transaction of $199,369.43. Following the completion of the sale, the insider now directly owns 2,057 shares in the company, valued at $106,161.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.54% of the company’s stock.
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First Solar Company Profile
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
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