Canada Pension Plan Investment Board Boosts Position in First Solar, Inc. (FSLR)

Canada Pension Plan Investment Board raised its holdings in First Solar, Inc. (NASDAQ:FSLR) by 16.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 108,800 shares of the solar cell manufacturer’s stock after buying an additional 15,600 shares during the period. Canada Pension Plan Investment Board owned 0.10% of First Solar worth $4,992,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Commerzbank Aktiengesellschaft FI increased its stake in First Solar by 72.5% in the 2nd quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock valued at $7,593,000 after buying an additional 79,987 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of First Solar during the 2nd quarter worth about $14,135,000. Bank of America Corp DE boosted its holdings in shares of First Solar by 67.2% during the 1st quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock worth $7,409,000 after buying an additional 109,938 shares during the period. Shell Asset Management Co. boosted its holdings in shares of First Solar by 34.3% during the 3rd quarter. Shell Asset Management Co. now owns 38,704 shares of the solar cell manufacturer’s stock worth $2,547,000 after buying an additional 9,893 shares during the period. Finally, Handelsbanken Fonder AB boosted its holdings in shares of First Solar by 26.0% during the 3rd quarter. Handelsbanken Fonder AB now owns 101,679 shares of the solar cell manufacturer’s stock worth $4,665,000 after buying an additional 21,000 shares during the period. Hedge funds and other institutional investors own 53.55% of the company’s stock.

A number of analysts have issued reports on the stock. TheStreet raised shares of First Solar from a “d+” rating to a “c” rating in a report on Wednesday, July 19th. BidaskClub downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. Roth Capital reaffirmed a “buy” rating and set a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $53.00 price target on shares of First Solar in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $47.61.

Shares of First Solar, Inc. (FSLR) opened at $61.28 on Wednesday. The company has a market cap of $6,429.94, a PE ratio of 15.09 and a beta of 1.99. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar, Inc. has a 1-year low of $25.56 and a 1-year high of $62.57.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same quarter last year, the company posted $1.22 earnings per share. The firm’s quarterly revenue was up 59.5% compared to the same quarter last year. sell-side analysts expect that First Solar, Inc. will post 2.47 EPS for the current year.

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About First Solar

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.

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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