Empowered Funds LLC Acquires 7,103 Shares of First Solar, Inc. (NASDAQ:FSLR)

Empowered Funds LLC increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 95.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,507 shares of the solar cell manufacturer’s stock after purchasing an additional 7,103 shares during the quarter. Empowered Funds LLC’s holdings in First Solar were worth $2,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. Wellington Management Group LLP lifted 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 valued at $523,166,000 after purchasing an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in shares of First Solar by 1,757.2% during 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 purchasing an additional 516,783 shares in the last quarter. Merewether Investment Management LP lifted its holdings in shares of First Solar by 993.4% during 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 purchasing an additional 293,400 shares in the last quarter. Erste Asset Management GmbH bought a new position in shares of First Solar during the third quarter valued at $67,652,000. Finally, International Assets Investment Management LLC lifted its holdings in shares of First Solar by 24,844.0% during 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 purchasing an additional 216,640 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FSLR shares. Evercore ISI lowered their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the company from $218.00 to $259.00 in a report on Tuesday. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Finally, Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Two research 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 stock. According to MarketBeat, First Solar has an average rating of “Buy” and an average target price of $276.38.

First Solar Stock Performance

NASDAQ:FSLR opened at $160.34 on Friday. 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, Inc. has a 12-month low of $141.70 and a 12-month high of $306.77. The stock has a 50-day moving average price of $180.71 and a 200 day moving average price of $202.62. The stock has a market capitalization of $17.17 billion, a P/E ratio of 13.81, a P/E/G ratio of 0.19 and a beta of 1.47.

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.