Journey Strategic Wealth LLC Invests $518,000 in First Solar, Inc. (NASDAQ:FSLR)

Journey Strategic Wealth LLC bought a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, HoldingsChannel.com reports. The institutional investor bought 2,938 shares of the solar cell manufacturer’s stock, valued at approximately $518,000.

Several other large investors have also added to or reduced their stakes in the stock. Truist Financial Corp boosted its stake in shares of First Solar by 10.9% during the 2nd quarter. Truist Financial Corp now owns 6,578 shares of the solar cell manufacturer’s stock valued at $1,483,000 after purchasing an additional 648 shares in the last quarter. Cetera Investment Advisers lifted its holdings in First Solar by 25.1% in the second quarter. Cetera Investment Advisers now owns 30,024 shares of the solar cell manufacturer’s stock worth $6,769,000 after buying an additional 6,033 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of First Solar during the 2nd quarter worth approximately $650,000. Centaurus Financial Inc. bought a new position in shares of First Solar in the 2nd quarter worth approximately $179,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on FSLR shares. Susquehanna reduced their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a research note on Wednesday, October 30th. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Evercore ISI cut their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. Finally, Piper Sandler upped their price target on First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.29.

First Solar Price Performance

Shares of FSLR opened at $167.52 on Monday. The firm has a fifty day simple moving average of $186.89 and a two-hundred day simple moving average of $205.91. The firm has a market cap of $17.93 billion, a PE ratio of 14.43, a P/E/G ratio of 0.19 and a beta of 1.49. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1-year low of $135.88 and a 1-year high of $306.77.

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.