Sycomore Asset Management Has $977,000 Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sycomore Asset Management lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 43.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,544 shares of the solar cell manufacturer’s stock after selling 4,270 shares during the period. Sycomore Asset Management’s holdings in First Solar were worth $977,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in First Solar in the 3rd quarter worth $25,000. Kennebec Savings Bank bought a new position in First Solar during the 3rd quarter worth about $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. Finally, Sound Income Strategies LLC boosted its position in shares of First Solar by 555.6% during the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer’s stock worth $59,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $168.34 on Monday. First Solar, Inc. has a one year low of $141.70 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a market capitalization of $18.02 billion, a price-to-earnings ratio of 14.50, a PEG ratio of 0.19 and a beta of 1.47. The company’s fifty day moving average price is $184.14 and its 200-day moving average price is $204.06.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FSLR shares. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research report on Tuesday, October 29th. Piper Sandler raised their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Mizuho dropped their target price on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Robert W. Baird reduced their price target on 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 lowered their price target 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. Three equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.29.

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.