Blue Trust Inc. Decreases Stake in First Solar, Inc. (NASDAQ:FSLR)

Blue Trust Inc. cut its position in First Solar, Inc. (NASDAQ:FSLR) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 652 shares of the solar cell manufacturer’s stock after selling 117 shares during the period. Blue Trust Inc.’s holdings in First Solar were worth $115,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Whalen Wealth Management Inc. increased its holdings in First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after buying an additional 1,554 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of First Solar by 36.9% in the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock worth $104,910,000 after acquiring an additional 49,074 shares in the last quarter. Paragon Capital Management Inc. purchased a new stake in First Solar during the fourth quarter worth approximately $1,240,000. Finally, Golden State Equity Partners boosted its holdings in First Solar by 41,342.9% in the fourth quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after purchasing an additional 2,894 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ:FSLR opened at $155.39 on Friday. The firm’s fifty day simple moving average is $176.11 and its 200-day simple moving average is $200.39. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $16.64 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.18 and a beta of 1.47. First Solar, Inc. has a fifty-two week low of $141.70 and a fifty-two week high of $306.77.

Analysts Set New Price Targets

A number of analysts have weighed in on FSLR shares. Wells Fargo & Company cut their price objective on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Barclays cut their price target on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Guggenheim restated a “buy” rating and issued a $335.00 price objective on shares of First Solar in a research note on Wednesday, January 22nd. Royal Bank of Canada cut their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Finally, Morgan Stanley decreased their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average price target of $276.38.

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.