Allspring Global Investments Holdings LLC Grows Position in First Solar, Inc. (NASDAQ:FSLR)

Allspring Global Investments Holdings LLC raised its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 665.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 39,192 shares of the solar cell manufacturer’s stock after buying an additional 34,074 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in First Solar were worth $7,308,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the third quarter worth $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter worth about $29,000. Larson Financial Group LLC boosted its stake in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after buying an additional 107 shares during the period. Crews Bank & Trust purchased a new position in First Solar during the fourth quarter worth about $53,000. Finally, Financial Avengers Inc. purchased a new position in First Solar during the third quarter worth about $77,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on FSLR shares. Bank of America lowered their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Royal Bank of Canada reduced 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. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Tuesday, October 29th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Finally, Guggenheim reiterated a “buy” rating and issued a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. Two research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $276.38.

First Solar Price Performance

First Solar stock opened at $162.50 on Thursday. 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 quick ratio of 1.44 and a current ratio of 2.14. The business has a fifty day moving average of $177.64 and a two-hundred day moving average of $201.00. The company has a market cap of $17.40 billion, a P/E ratio of 14.00, a price-to-earnings-growth ratio of 0.18 and a beta of 1.47.

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.