Jennison Associates LLC Decreases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Jennison Associates LLC cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,278 shares of the solar cell manufacturer’s stock after selling 1,011 shares during the quarter. Jennison Associates LLC’s holdings in First Solar were worth $8,332,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of FSLR. AlphaMark Advisors LLC bought a new stake in shares of First Solar in the 3rd quarter worth about $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the third quarter valued at approximately $29,000. Larson Financial Group LLC lifted its stake in shares of First Solar by 214.0% in the 3rd 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 during the last quarter. Finally, Crews Bank & Trust purchased a new position in shares of First Solar in the 4th quarter worth approximately $53,000. Institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FSLR. Guggenheim restated a “buy” rating and issued a $335.00 price target on shares of First Solar in a research report on Wednesday, January 22nd. The Goldman Sachs Group dropped their price target on shares of First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Finally, Morgan Stanley decreased their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar has an average rating of “Moderate Buy” and a consensus price target of $276.29.

First Solar Trading Down 2.3 %

FSLR opened at $162.37 on Thursday. First Solar, Inc. has a 12 month low of $138.41 and a 12 month high of $306.77. The stock has a fifty day moving average price of $185.25 and a 200-day moving average price of $204.93. The firm has a market cap of $17.38 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

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.