South Dakota Investment Council Trims Stake in First Solar, Inc. (NASDAQ:FSLR)

South Dakota Investment Council reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 11.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 58,401 shares of the solar cell manufacturer’s stock after selling 7,900 shares during the period. South Dakota Investment Council owned 0.05% of First Solar worth $10,293,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in First Solar by 2.2% during 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 acquiring an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its stake in 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 valued at $647,440,000 after acquiring an additional 24,143 shares during the last quarter. Wellington Management Group LLP raised its stake in First Solar by 75.8% during the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after acquiring an additional 904,498 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in First Solar by 0.9% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock valued at $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 raised its stake in 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 valued at $331,924,000 after acquiring an additional 90,249 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $155.39 on Friday. The business’s fifty day moving average price is $176.11 and its two-hundred day moving average price is $200.32. The stock has a market cap of $16.64 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a one year low of $141.70 and a one year high of $306.77.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Piper Sandler upped their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Guggenheim reissued a “buy” rating and set a $335.00 target price on shares of First Solar in a research note on Wednesday, January 22nd. Bank of America cut their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Barclays cut their target price on First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Two analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price 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.