SFE Investment Counsel Acquires 3,276 Shares of First Solar, Inc. (NASDAQ:FSLR)

SFE Investment Counsel boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 6.7% during the fourth quarter, Holdings Channel reports. The fund owned 51,856 shares of the solar cell manufacturer’s stock after purchasing an additional 3,276 shares during the period. First Solar makes up 1.9% of SFE Investment Counsel’s holdings, making the stock its 13th largest holding. SFE Investment Counsel’s holdings in First Solar were worth $9,139,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its holdings in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in First Solar by 1,757.2% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock worth $136,242,000 after purchasing an additional 516,783 shares during the last quarter. Merewether Investment Management LP boosted its stake in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares during the period. Erste Asset Management GmbH acquired a new position in First Solar in the 3rd quarter valued at $67,652,000. Finally, International Assets Investment Management LLC boosted its holdings in First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock valued at $542,560,000 after purchasing an additional 216,640 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

First Solar stock opened at $158.61 on Thursday. The stock’s 50 day moving average price is $181.46 and its two-hundred day moving average price is $202.92. The stock has a market capitalization of $16.98 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52-week low of $141.70 and a 52-week high of $306.77.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on FSLR. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Morgan Stanley cut 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. Royal Bank of Canada dropped their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research note on Wednesday, October 30th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Finally, Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $276.38.

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.