Levin Capital Strategies L.P. has recently acquired a new stake in First Solar, Inc. (NASDAQ:FSLR), as disclosed in their latest filing with the Securities and Exchange Commission. In the fourth quarter, the fund purchased 2,500 shares of the solar cell manufacturer, valued at approximately $441,000.
Several other institutional investors have also made moves regarding First Solar’s stock. For instance, Strengthening Families & Communities LLC acquired a position worth $25,000 in the third quarter, while Kennebec Savings Bank also bought in for $29,000 during the same period. Larson Financial Group LLC increased its holdings in First Solar by 214% in the third quarter, now owning 157 shares valued at $39,000 after acquiring an additional 107 shares. Additionally, Crews Bank & Trust and Hudson Edge Investment Partners each bought new positions worth $53,000 in the fourth quarter. Currently, institutions and hedge funds hold 92.08% of First Solar’s stock.
First Solar Price Performance
On Friday, shares of NASDAQ FSLR opened at $136.18. Over the past year, First Solar has seen a low of $133.90 and a high of $306.77. The stock has a 50-day moving average of $172.38 and a 200-day moving average of $197.88. Financial metrics reveal a debt-to-equity ratio of 0.05, a current ratio of 2.14, and a quick ratio of 1.44. The company boasts a market capitalization of $14.58 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 0.19, and a beta of 1.47.
First Solar reported its earnings on February 25. The company posted earnings per share of $3.65 for the quarter, which fell short of the consensus estimate of $4.81 by $1.16. Despite this, First Solar achieved a return on equity of 17.56% and a net margin of 32.41%, with quarterly revenue reaching $1.51 billion, slightly above analysts’ expectations of $1.48 billion. Analysts predict that First Solar will report an EPS of 13.05 for the current fiscal year.
Analyst Ratings and Price Targets
Recent analyst reports have provided mixed reviews on First Solar. Bank of America lowered its price target from $246.00 to $236.00 while maintaining a “buy” rating. Robert W. Baird also reduced its target from $307.00 to $267.00, recommending an “outperform” rating. Wells Fargo likewise cut its target from $240.00 to $209.00, retaining an “overweight” rating. BMO Capital Markets reaffirmed an “outperform” rating but adjusted its price target down to $230.00 from $260.00. Citigroup also revised its target from $254.00 to $236.00, now holding a “neutral” rating on the stock. Overall, three analysts have given the stock a hold rating, while twenty-three recommend buying and two suggest a strong buy. Currently, First Solar has a consensus rating of “Moderate Buy” and an average price target of $262.08.
Company Overview
First Solar, Inc. is a solar technology firm that specializes in providing photovoltaic (PV) solar energy solutions across the United States and internationally, including markets in France, Japan, and Chile. The company produces PV solar modules using thin-film semiconductor technology, which offers a lower-carbon alternative to traditional crystalline silicon PV solar modules.
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Original article by NenPower, If reposted, please credit the source: https://nenpower.com/blog/levin-capital-strategies-acquires-2500-shares-of-first-solar-inc-nasdaqfslr/
