First Solar, Inc. $FSLR Shares Sold by Tobam

Tobam cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 25.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,244 shares of the solar cell manufacturer’s stock after selling 5,683 shares during the period. Tobam’s holdings in First Solar were worth $3,582,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC boosted its position in First Solar by 1.7% during the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares during the period. Signaturefd LLC raised its stake in shares of First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares in the last quarter. Figure 8 Investment Strategies LLC lifted its holdings in First Solar by 0.6% in the third quarter. Figure 8 Investment Strategies LLC now owns 8,116 shares of the solar cell manufacturer’s stock worth $1,790,000 after purchasing an additional 48 shares during the period. Hemington Wealth Management grew its position in First Solar by 22.9% in the 3rd quarter. Hemington Wealth Management now owns 306 shares of the solar cell manufacturer’s stock valued at $67,000 after buying an additional 57 shares in the last quarter. Finally, Assetmark Inc. increased its stake in First Solar by 14.9% during the 3rd quarter. Assetmark Inc. now owns 448 shares of the solar cell manufacturer’s stock valued at $99,000 after buying an additional 58 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR opened at $225.65 on Monday. The stock has a fifty day moving average price of $248.70 and a 200 day moving average price of $233.73. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $285.99. The stock has a market cap of $24.21 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 0.29 and a beta of 1.60.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FSLR shares. Roth Mkm set a $300.00 price target on shares of First Solar in a research note on Friday, October 31st. KeyCorp reiterated an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Daiwa Securities Group boosted their price target on shares of First Solar from $215.00 to $284.00 and gave the company an “outperform” rating in a report on Tuesday, December 9th. BMO Capital Markets set a $263.00 price objective on shares of First Solar in a research note on Thursday, January 29th. Finally, UBS Group lifted their price objective on shares of First Solar from $275.00 to $330.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $275.61.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.