RWC Asset Management LLP Makes New $16.75 Million Investment in First Solar, Inc. (NASDAQ:FSLR)

RWC Asset Management LLP purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 95,012 shares of the solar cell manufacturer’s stock, valued at approximately $16,745,000. RWC Asset Management LLP owned approximately 0.09% of First Solar as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Strengthening Families & Communities LLC purchased a new stake in shares of First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank purchased a new stake in First Solar during the 3rd quarter valued at about $29,000. Larson Financial Group LLC lifted its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Crews Bank & Trust purchased a new stake in First Solar in the fourth quarter valued at $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new stake in First Solar during the fourth quarter worth about $53,000. Institutional investors own 92.08% of the company’s stock.

First Solar Stock Down 5.3 %

Shares of NASDAQ FSLR opened at $155.39 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar, Inc. has a 12-month low of $141.70 and a 12-month high of $306.77. The firm’s 50-day moving average is $176.11 and its two-hundred day moving average is $200.26. The company has a market capitalization 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.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wells Fargo & Company cut their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Bank of America lowered their price objective on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group dropped their price target on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research report on Wednesday, October 30th. Finally, Morgan Stanley lowered their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Buy” and an average 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.