Oregon Public Employees Retirement Fund Has $1.39 Million Position in First Solar, Inc. (FSLR)
Oregon Public Employees Retirement Fund increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,235 shares of the solar cell manufacturer’s stock after purchasing an additional 1,191 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in First Solar were worth $1,387,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently modified their holdings of the stock. Benjamin F. Edwards & Company Inc. raised its holdings in shares of First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after acquiring an additional 950 shares during the last quarter. Fiduciary Trust Co. acquired a new position in shares of First Solar in the second quarter worth $128,000. Parsec Financial Management Inc. acquired a new position in shares of First Solar in the second quarter worth $204,000. Garner Asset Management Corp acquired a new position in shares of First Solar in the second quarter worth $208,000. Finally, World Asset Management Inc acquired a new position in shares of First Solar in the second quarter worth $221,000. 53.55% of the stock is owned by hedge funds and other institutional investors.
First Solar, Inc. (FSLR) opened at $61.28 on Wednesday. First Solar, Inc. has a fifty-two week low of $25.56 and a fifty-two week high of $62.57. The stock has a market capitalization of $6,429.94, a P/E ratio of 15.09 and a beta of 1.99. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period last year, the company posted $1.22 EPS. analysts anticipate that First Solar, Inc. will post 2.47 earnings per share for the current fiscal year.
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FSLR has been the subject of a number of analyst reports. Axiom Securities reissued a “buy” rating on shares of First Solar in a report on Wednesday, August 30th. Bank of America Corporation reaffirmed a “buy” rating and issued a $64.00 price objective on shares of First Solar in a research report on Tuesday, August 29th. Vetr raised First Solar from a “buy” rating to a “strong-buy” rating and set a $54.35 price objective for the company in a research report on Wednesday, October 25th. Deutsche Bank AG raised First Solar from a “hold” rating to a “buy” rating and lifted their price objective for the company from $50.00 to $65.00 in a research report on Friday, September 15th. Finally, Zacks Investment Research downgraded First Solar from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $47.61.
First Solar Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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