Janney Montgomery Scott LLC Increases Stake in First Solar, Inc. (NASDAQ:FSLR)

Janney Montgomery Scott LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 125.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,513 shares of the solar cell manufacturer’s stock after purchasing an additional 3,618 shares during the period. Janney Montgomery Scott LLC’s holdings in First Solar were worth $1,148,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FSLR. Wellington Management Group LLP boosted its position in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the last quarter. Merewether Investment Management LP increased its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after buying an additional 293,400 shares during the period. Erste Asset Management GmbH purchased a new position in First Solar during the 3rd quarter valued at about $67,652,000. Finally, International Assets Investment Management LLC raised its holdings in First Solar by 24,844.0% in the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after purchasing an additional 216,640 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $166.23 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77. The firm has a market capitalization of $17.80 billion, a PE ratio of 14.32, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a 50-day moving average price of $185.86 and a two-hundred day moving average price of $205.23.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FSLR. Roth Mkm reduced their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Evercore ISI lowered their price objective 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. BMO Capital Markets reaffirmed an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Jefferies Financial Group reduced their target price on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Finally, Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $276.29.

About First Solar

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.