Stratos Wealth Partners LTD. Reduces Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Stratos Wealth Partners LTD. trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 32.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,520 shares of the solar cell manufacturer’s stock after selling 736 shares during the period. Stratos Wealth Partners LTD.’s holdings in First Solar were worth $268,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its position in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after buying an additional 24,143 shares during the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 75.8% in 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 purchasing an additional 904,498 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its holdings in shares of First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of First Solar by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock worth $331,924,000 after purchasing an additional 90,249 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR opened at $160.34 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The company has a 50-day moving average of $180.71 and a 200-day moving average of $202.62. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The company has a market capitalization of $17.17 billion, a P/E ratio of 13.81, a PEG ratio of 0.19 and a beta of 1.47.

Analyst Upgrades and Downgrades

FSLR has been the topic of a number of recent analyst reports. Royal Bank of Canada reduced their price target on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley dropped their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research note on Wednesday, October 30th. Wells Fargo & Company decreased their price target on 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 dropped 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 report on Wednesday, December 18th. Finally, Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock 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.