Mader & Shannon Wealth Management Inc. Increases Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Mader & Shannon Wealth Management Inc. lifted its stake in First Solar, Inc. (NASDAQ:FSLR) by 69.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,363 shares of the solar cell manufacturer’s stock after purchasing an additional 5,897 shares during the quarter. First Solar comprises 1.6% of Mader & Shannon Wealth Management Inc.’s portfolio, making the stock its 15th biggest holding. Mader & Shannon Wealth Management Inc.’s holdings in First Solar were worth $2,531,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Covestor Ltd grew its position in First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares during the last quarter. Field & Main Bank grew its position in First Solar by 4.1% in the 3rd quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock valued at $345,000 after acquiring an additional 55 shares during the last quarter. Clear Harbor Asset Management LLC grew its position in First Solar by 0.6% in the 4th quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock valued at $1,623,000 after acquiring an additional 55 shares during the last quarter. Demars Financial Group LLC grew its position in First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after acquiring an additional 56 shares during the last quarter. Finally, Doliver Advisors LP grew its position in First Solar by 1.2% in the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer’s stock valued at $831,000 after acquiring an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 0.2 %

First Solar stock opened at $162.50 on Thursday. The stock has a 50-day moving average of $177.64 and a two-hundred day moving average of $201.00. 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. The stock has a market cap of $17.40 billion, a PE ratio of 14.00, a price-to-earnings-growth ratio of 0.18 and a beta of 1.47.

Analysts Set New Price Targets

Several equities analysts have commented on FSLR shares. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Wells Fargo & Company cut their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Royal Bank of Canada lowered their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Bank of America lowered their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 target price (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, First Solar presently has a consensus rating of “Buy” and a consensus target price of $276.38.

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.