Asset Management One Co. Ltd. Boosts Holdings in First Solar, Inc. (NASDAQ:FSLR)

Asset Management One Co. Ltd. raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,496 shares of the solar cell manufacturer’s stock after purchasing an additional 3,562 shares during the period. Asset Management One Co. Ltd.’s holdings in First Solar were worth $8,309,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Strengthening Families & Communities LLC purchased a new position in First Solar during the third quarter valued at $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter valued at $29,000. Larson Financial Group LLC lifted its holdings in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Crews Bank & Trust acquired a new stake in shares of First Solar in the fourth quarter valued at about $53,000. Finally, Financial Avengers Inc. acquired a new stake in shares of First Solar in the third quarter valued at about $77,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FSLR. Bank of America reduced their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Robert W. Baird reduced their target price on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Royal Bank of Canada reduced their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Finally, Piper Sandler increased their target price on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, First Solar presently has an average rating of “Buy” and a consensus target price of $276.38.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $159.76 on Tuesday. The firm has a market capitalization of $17.10 billion, a PE ratio of 13.76, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The business’s fifty day moving average price is $179.22 and its two-hundred day moving average price is $201.63.

First Solar 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.