Van ECK Associates Corp Buys 2,102 Shares of First Solar, Inc. (NASDAQ:FSLR)

Van ECK Associates Corp raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 45,139 shares of the solar cell manufacturer’s stock after purchasing an additional 2,102 shares during the period. Van ECK Associates Corp’s holdings in First Solar were worth $7,955,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in FSLR. Creative Planning raised its position in First Solar by 7.1% in the third quarter. Creative Planning now owns 17,003 shares of the solar cell manufacturer’s stock worth $4,241,000 after acquiring an additional 1,121 shares during the period. Bleakley Financial Group LLC increased its holdings in First Solar by 8.6% in the 3rd quarter. Bleakley Financial Group LLC now owns 1,383 shares of the solar cell manufacturer’s stock valued at $345,000 after acquiring an additional 110 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in First Solar by 2.9% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,055 shares of the solar cell manufacturer’s stock valued at $2,758,000 after acquiring an additional 312 shares during the last quarter. Blue Trust Inc. increased its holdings in First Solar by 88.5% in the 3rd quarter. Blue Trust Inc. now owns 769 shares of the solar cell manufacturer’s stock valued at $192,000 after acquiring an additional 361 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of First Solar by 10.1% in the 3rd quarter. Raymond James & Associates now owns 13,040 shares of the solar cell manufacturer’s stock worth $3,253,000 after buying an additional 1,197 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 0.4 %

Shares of NASDAQ FSLR opened at $159.76 on Tuesday. The company’s 50-day simple moving average is $179.22 and its 200-day simple moving average is $201.63. First Solar, Inc. has a 52-week low of $141.70 and a 52-week high of $306.77. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 13.76, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. BMO Capital Markets reissued an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Morgan Stanley reduced their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, First Solar currently has an average rating of “Buy” and an average target price of $276.38.

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.