Hartford Investment Management Co. Trims Stake in First Solar, Inc. (NASDAQ:FSLR)

Hartford Investment Management Co. decreased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,611 shares of the solar cell manufacturer’s stock after selling 128 shares during the quarter. Hartford Investment Management Co.’s holdings in First Solar were worth $1,165,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of FSLR. State Street Corp increased 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 holdings in shares of 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 last quarter. Wellington Management Group LLP increased its stake in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after buying an additional 904,498 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings 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 buying an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in First Solar by 7.3% in 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 buying an additional 90,249 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Down 0.4 %

NASDAQ:FSLR opened at $159.76 on Friday. The company has a market capitalization of $17.10 billion, a P/E ratio of 13.76, a PEG ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $141.70 and a 12 month high of $306.77. The firm has a fifty day simple moving average of $180.02 and a 200-day simple moving average of $202.20.

Analysts Set New Price Targets

FSLR has been the subject of several research analyst reports. Guggenheim reaffirmed a “buy” rating and set a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. Susquehanna decreased their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. BMO Capital Markets restated an “outperform” rating and set a $260.00 price target (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Finally, Bank of America dropped their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus 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.