Tobam Decreases Holdings in First Solar, Inc. $FSLR

Tobam reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 25.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,244 shares of the solar cell manufacturer’s stock after selling 5,683 shares during the period. Tobam’s holdings in First Solar were worth $3,582,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. Fifth Third Bancorp grew its stake in shares of First Solar by 2.0% in the third quarter. Fifth Third Bancorp now owns 4,761 shares of the solar cell manufacturer’s stock valued at $1,050,000 after buying an additional 94 shares in the last quarter. Todd Asset Management LLC boosted its holdings in First Solar by 18.2% in the 3rd quarter. Todd Asset Management LLC now owns 187,376 shares of the solar cell manufacturer’s stock worth $41,322,000 after acquiring an additional 28,817 shares during the period. State of New Jersey Common Pension Fund D grew its position in First Solar by 3.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 35,379 shares of the solar cell manufacturer’s stock valued at $7,802,000 after acquiring an additional 1,317 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of First Solar by 6.6% during the third quarter. PNC Financial Services Group Inc. now owns 21,781 shares of the solar cell manufacturer’s stock valued at $4,803,000 after purchasing an additional 1,340 shares during the period. Finally, HighTower Advisors LLC raised its stake in shares of First Solar by 5.8% during the third quarter. HighTower Advisors LLC now owns 77,154 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 4,264 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Up 2.4%

FSLR stock opened at $225.65 on Monday. The firm has a market cap of $24.21 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.29 and a beta of 1.60. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $285.99. The firm has a fifty day moving average price of $248.70 and a two-hundred day moving average price of $233.73. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Wolfe Research raised their price target on shares of First Solar from $232.00 to $247.00 in a report on Friday, October 31st. Jefferies Financial Group downgraded First Solar from a “buy” rating to a “hold” rating and lowered their target price for the company from $269.00 to $260.00 in a research note on Wednesday, January 7th. JPMorgan Chase & Co. boosted their price target on First Solar from $278.00 to $303.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Wells Fargo & Company increased their price target on First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Finally, Roth Mkm set a $300.00 price objective on First Solar in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $275.61.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.