Vontobel Holding Ltd. Sells 31,131 Shares of First Solar, Inc. (NASDAQ:FSLR)

Vontobel Holding Ltd. trimmed its stake in First Solar, Inc. (NASDAQ:FSLR) by 15.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 165,792 shares of the solar cell manufacturer’s stock after selling 31,131 shares during the quarter. Vontobel Holding Ltd. owned approximately 0.15% of First Solar worth $29,219,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Western Financial Corp CA acquired a new stake in shares of First Solar in the third quarter valued at approximately $1,209,000. Whalen Wealth Management Inc. lifted its position in shares of 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 lifted its position in shares of First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after buying an additional 5,780 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of First Solar by 9.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after buying an additional 49,074 shares during the last quarter. Finally, Paragon Capital Management Inc. acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $1,240,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Trading Down 0.4 %

Shares of FSLR opened at $159.76 on Friday. First Solar, Inc. has a 52-week low of $141.70 and a 52-week high of $306.77. The business’s fifty day moving average is $180.02 and its 200-day moving average is $202.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The firm has a market cap of $17.10 billion, a price-to-earnings ratio of 13.76, a PEG ratio of 0.19 and a beta of 1.47.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on FSLR shares. Piper Sandler raised their price objective on First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Robert W. Baird dropped their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. 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 report on Wednesday, October 30th. Barclays dropped their price target on First Solar from $275.00 to $273.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Two equities research 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 company’s stock. According to 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.