Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in First Solar, Inc. (NASDAQ:FSLR)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.9% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 11,266 shares of the solar cell manufacturer’s stock after acquiring an additional 211 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in First Solar were worth $1,986,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the third quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new stake in First Solar during the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter worth approximately $29,000. Larson Financial Group LLC raised its position 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 in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter worth approximately $53,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 3.2 %

FSLR opened at $162.89 on Tuesday. 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 12 month low of $141.70 and a 12 month high of $306.77. The stock’s 50 day moving average price is $183.24 and its 200 day moving average price is $203.69. The stock has a market cap of $17.44 billion, a P/E ratio of 14.03, a P/E/G ratio of 0.19 and a beta of 1.47.

Analysts Set New Price Targets

Several research firms recently issued reports on FSLR. Wells Fargo & Company cut their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Piper Sandler increased their price target 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. Royal Bank of Canada lowered their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Robert W. Baird lowered their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Three investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.29.

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.