ING Groep NV Purchases Shares of 14,750 First Solar, Inc. (NASDAQ:FSLR)

ING Groep NV acquired a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 14,750 shares of the solar cell manufacturer’s stock, valued at approximately $2,600,000.

Several other large investors have also modified their holdings of FSLR. Mader & Shannon Wealth Management Inc. raised its holdings in First Solar by 69.7% in the 4th quarter. Mader & Shannon Wealth Management Inc. now owns 14,363 shares of the solar cell manufacturer’s stock worth $2,531,000 after acquiring an additional 5,897 shares during the period. Handelsbanken Fonder AB increased its stake in shares of First Solar by 110.4% in the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock worth $66,092,000 after purchasing an additional 196,744 shares during the period. Private Wealth Partners LLC lifted its position in shares of First Solar by 8.0% during the 4th quarter. Private Wealth Partners LLC now owns 3,647 shares of the solar cell manufacturer’s stock worth $643,000 after purchasing an additional 270 shares during the last quarter. Financial Sense Advisors Inc. boosted its stake in First Solar by 4.6% during the 4th quarter. Financial Sense Advisors Inc. now owns 29,002 shares of the solar cell manufacturer’s stock valued at $5,111,000 after purchasing an additional 1,271 shares during the period. Finally, Atria Wealth Solutions Inc. grew its holdings in First Solar by 10.3% in the 4th quarter. Atria Wealth Solutions Inc. now owns 10,222 shares of the solar cell manufacturer’s stock valued at $1,801,000 after buying an additional 956 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $155.39 on Friday. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.19 and a beta of 1.47. 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 1-year low of $141.70 and a 1-year high of $306.77. The company has a 50 day moving average of $176.11 and a 200-day moving average of $200.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on FSLR shares. Piper Sandler upped their price target on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Royal Bank of Canada decreased their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Robert W. Baird cut their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Evercore ISI decreased their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research 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 given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average target price 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.