State of Alaska Department of Revenue Sells 225 Shares of First Solar, Inc. (NASDAQ:FSLR)

State of Alaska Department of Revenue reduced its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,209 shares of the solar cell manufacturer’s stock after selling 225 shares during the quarter. State of Alaska Department of Revenue’s holdings in First Solar were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of First Solar by 75.8% in 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 period. Robeco Institutional Asset Management B.V. raised its stake in shares of First Solar by 1,757.2% in 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 buying an additional 516,783 shares during the period. Merewether Investment Management LP raised its stake in shares of First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after buying an additional 293,400 shares during the period. Erste Asset Management GmbH bought a new stake in shares of First Solar in the third quarter valued at $67,652,000. Finally, International Assets Investment Management LLC raised its stake in shares of 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 valued at $542,560,000 after buying an additional 216,640 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 3.2 %

NASDAQ FSLR opened at $162.89 on Tuesday. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a 50-day moving average of $183.24 and a 200-day moving average of $203.69. The firm has a market cap of $17.44 billion, a PE ratio of 14.03, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FSLR. Roth Mkm lowered their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Bank of America reduced their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Mizuho reduced their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, October 31st. Morgan Stanley reduced their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target 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.