Handelsbanken Fonder AB Buys 196,744 Shares of First Solar, Inc. (NASDAQ:FSLR)

Handelsbanken Fonder AB increased its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 110.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 375,010 shares of the solar cell manufacturer’s stock after purchasing an additional 196,744 shares during the period. Handelsbanken Fonder AB’s holdings in First Solar were worth $66,092,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FSLR. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter worth approximately $25,000. Kennebec Savings Bank bought a new stake in First Solar during the 3rd quarter worth approximately $29,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Crews Bank & Trust bought a new position in First Solar during the 4th quarter valued at $53,000. Finally, Financial Avengers Inc. purchased a new position in First Solar during the 3rd quarter worth $77,000. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th. Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research note on Wednesday, December 18th. Susquehanna reduced their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. Finally, Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a research note on Tuesday, October 29th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $276.38.

First Solar Trading Down 0.2 %

NASDAQ FSLR opened at $162.50 on Thursday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $17.40 billion, a price-to-earnings ratio of 14.00, a PEG ratio of 0.18 and a beta of 1.47. The stock’s 50-day simple moving average is $177.64 and its two-hundred day simple moving average is $201.00. First Solar, Inc. has a twelve month low of $141.70 and a twelve month high of $306.77.

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.