First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 192,315 shares of the solar cell manufacturer’s stock after selling 17,832 shares during the period. Rhumbline Advisers’ holdings in First Solar were worth $33,893,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in FSLR. Strengthening Families & Communities LLC purchased a new stake in First Solar in the third quarter valued at approximately $25,000. Kennebec Savings Bank purchased a new stake in shares of First Solar in the 3rd quarter valued at $29,000. Larson Financial Group LLC raised its holdings in shares of First Solar by 214.0% in the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after buying an additional 107 shares during the period. Crews Bank & Trust acquired a new position in First Solar during the 4th quarter worth about $53,000. Finally, Financial Avengers Inc. purchased a new position in First Solar during the 3rd quarter valued at about $77,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 1.9 %

FSLR stock opened at $162.87 on Wednesday. First Solar, Inc. has a 12 month low of $141.70 and a 12 month 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 company has a market cap of $17.44 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a fifty day moving average price of $178.41 and a 200 day moving average price of $201.28.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Barclays reduced their price objective on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Susquehanna lowered their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Citigroup raised First Solar from a “neutral” rating to a “buy” rating and increased their price target for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Finally, Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $276.38.

First Solar 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.