MetLife Investment Management LLC Sells 716 Shares of First Solar, Inc. (NASDAQ:FSLR)

MetLife Investment Management LLC reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.5% in the third quarter, Holdings Channel reports. The firm owned 27,827 shares of the solar cell manufacturer’s stock after selling 716 shares during the quarter. MetLife Investment Management LLC’s holdings in First Solar were worth $6,941,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of First Solar in the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the third quarter worth $29,000. Atlas Capital Advisors LLC lifted its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the second quarter valued at $36,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 3.5 %

Shares of FSLR stock opened at $199.27 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a fifty day simple moving average of $208.94 and a two-hundred day simple moving average of $225.35. The firm has a market capitalization of $21.33 billion, a PE ratio of 17.16, a PEG ratio of 0.34 and a beta of 1.48. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. On average, analysts predict that First Solar, Inc. will post 13.15 EPS for the current fiscal year.

Analysts Set New Price Targets

FSLR has been the subject of a number of recent analyst reports. Evercore ISI decreased their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a report on Tuesday, October 29th. The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Jefferies Financial Group decreased their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Finally, Bank of America dropped their price target on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $279.04.

First Solar Company 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.