Vanguard Group Inc. Purchases 464,130 Shares of First Solar, Inc. $FSLR

Vanguard Group Inc. boosted its position in First Solar, Inc. (NASDAQ:FSLR) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,721,979 shares of the solar cell manufacturer’s stock after acquiring an additional 464,130 shares during the period. Vanguard Group Inc. owned 12.79% of First Solar worth $3,026,108,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Wealth Investment Group LLC bought a new position in shares of First Solar in the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. lifted its holdings in First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock valued at $30,000 after buying an additional 75 shares during the period. Total Investment Management Inc. bought a new position in First Solar in the second quarter valued at approximately $36,000. Private Trust Co. NA boosted its stake in First Solar by 2,610.0% in the second quarter. Private Trust Co. NA now owns 271 shares of the solar cell manufacturer’s stock valued at $45,000 after acquiring an additional 261 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new stake in First Solar during the 2nd quarter worth $47,000. 92.08% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on FSLR. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a research note on Monday, December 29th. Jefferies Financial Group lowered First Solar from a “buy” rating to a “hold” rating and cut their target price for the company from $269.00 to $260.00 in a research note on Wednesday, January 7th. Seaport Research Partners raised their target price on First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a report on Tuesday, November 4th. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Finally, Evercore increased their price target on shares of First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $275.61.

First Solar Trading Up 5.5%

NASDAQ:FSLR opened at $238.57 on Thursday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The business’s 50-day simple moving average is $247.08 and its 200-day simple moving average is $234.41. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The stock has a market capitalization of $25.60 billion, a PE ratio of 18.32, a price-to-earnings-growth ratio of 0.29 and a beta of 1.60.

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.