Bryn Mawr Capital Management LLC Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Bryn Mawr Capital Management LLC cut its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 75.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,495 shares of the solar cell manufacturer’s stock after selling 4,476 shares during the period. Bryn Mawr Capital Management LLC’s holdings in First Solar were worth $263,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. State Street Corp grew its stake in First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC grew its stake in First Solar by 0.9% in the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock worth $647,440,000 after purchasing an additional 24,143 shares during the period. Wellington Management Group LLP grew its stake in First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after purchasing an additional 904,498 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in First Solar by 0.9% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after purchasing an additional 15,890 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in First Solar by 7.3% in the third 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 worth $331,924,000 after purchasing an additional 90,249 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on FSLR. Bank of America reduced their price target on First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $218.00 to $259.00 in a research note on Tuesday, February 11th. 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. Robert W. Baird dropped their target price on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, Royal Bank of Canada dropped their target price on First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, First Solar currently has an average rating of “Buy” and an average target price of $276.38.

First Solar Stock Down 5.3 %

First Solar stock opened at $155.39 on Friday. The stock has a market cap of $16.64 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 0.18 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. The stock has a fifty day moving average of $176.11 and a 200 day moving average of $200.39.

First Solar Company 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.