Aberdeen Group plc Sells 8,798 Shares of First Solar, Inc. $FSLR

Aberdeen Group plc lessened its holdings in First Solar, Inc. (NASDAQ:FSLR) by 6.2% during the third quarter, Holdings Channel.com reports. The firm owned 133,405 shares of the solar cell manufacturer’s stock after selling 8,798 shares during the quarter. Aberdeen Group plc’s holdings in First Solar were worth $29,207,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. SFE Investment Counsel raised its holdings in shares of First Solar by 9.1% during the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after acquiring an additional 5,852 shares in the last quarter. Joule Financial LLC bought a new stake in First Solar in the third quarter valued at $950,000. Mirae Asset Global Investments Co. Ltd. increased its position in First Solar by 22.0% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares during the period. Atlantic Union Bankshares Corp bought a new position in First Solar in the 2nd quarter worth $1,323,000. Finally, State Street Corp lifted its position in shares of First Solar by 2.1% in the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after purchasing an additional 111,927 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on FSLR shares. Royal Bank Of Canada boosted their price target on shares of First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Wall Street Zen upgraded First Solar from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. KeyCorp reissued an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. JPMorgan Chase & Co. lifted their price target on First Solar from $278.00 to $303.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Glj Research upped their price target on First Solar from $214.06 to $314.43 and gave the stock a “buy” rating in a research note on Tuesday, November 4th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.61.

First Solar Stock Performance

Shares of First Solar stock opened at $226.05 on Wednesday. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The firm’s 50-day moving average is $247.55 and its 200 day moving average is $234.39. The stock has a market cap of $24.26 billion, a price-to-earnings ratio of 17.36, a PEG ratio of 0.29 and a beta of 1.60. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55.

About First Solar

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.