Summerhill Capital Management lnc. Boosts Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Summerhill Capital Management lnc. raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 20.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 44,243 shares of the solar cell manufacturer’s stock after acquiring an additional 7,576 shares during the quarter. First Solar comprises 5.8% of Summerhill Capital Management lnc.’s portfolio, making the stock its 8th biggest holding. Summerhill Capital Management lnc.’s holdings in First Solar were worth $7,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of FSLR. Wellington Management Group LLP raised its holdings in 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 buying an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 1,757.2% in the third 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 period. Merewether Investment Management LP increased its stake in shares of First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock worth $80,553,000 after purchasing an additional 293,400 shares during the period. Erste Asset Management GmbH acquired a new stake in First Solar during the third quarter worth about $67,652,000. Finally, International Assets Investment Management LLC grew its position in 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 worth $542,560,000 after buying an additional 216,640 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 1.0 %

Shares of FSLR opened at $164.09 on Friday. The company has a market capitalization of $17.57 billion, a P/E ratio of 14.13, a PEG ratio of 0.18 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a one year low of $141.70 and a one year high of $306.77. The business’s 50 day simple moving average is $177.00 and its 200-day simple moving average is $200.75.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Bank of America decreased their target price on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Robert W. Baird decreased their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. Finally, Susquehanna decreased their price objective on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has a consensus rating of “Buy” and a consensus price target 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.