Allspring Global Investments Holdings LLC Purchases 34,074 Shares of First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 665.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,192 shares of the solar cell manufacturer’s stock after buying an additional 34,074 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $7,308,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC bought a new stake in First Solar during the 3rd quarter valued at about $25,000. Kennebec Savings Bank bought a new stake in First Solar during the 3rd quarter valued at about $29,000. Larson Financial Group LLC lifted its holdings in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares in the last quarter. Crews Bank & Trust bought a new stake in shares of First Solar in the 4th quarter valued at about $53,000. Finally, Financial Avengers Inc. bought a new stake in shares of First Solar in the 3rd quarter valued at about $77,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $162.50 on Thursday. 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 company has a fifty day moving average of $177.64 and a two-hundred day moving average of $201.00. The stock has a market capitalization of $17.40 billion, a PE ratio of 14.00, a P/E/G ratio of 0.18 and a beta of 1.47. First Solar, Inc. has a fifty-two week low of $141.70 and a fifty-two week high of $306.77.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent research reports. Bank of America reduced their price target on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Piper Sandler lifted their price objective on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, December 2nd. 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 research report on Wednesday, October 30th. Morgan Stanley dropped their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, Wells Fargo & Company decreased their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research note on Wednesday, January 8th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $276.38.

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.