Todd Asset Management LLC Raises Position in First Solar, Inc. $FSLR

Todd Asset Management LLC boosted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 18.2% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 187,376 shares of the solar cell manufacturer’s stock after purchasing an additional 28,817 shares during the period. Todd Asset Management LLC’s holdings in First Solar were worth $41,322,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Wealth Investment Group LLC purchased a new stake in First Solar during the 2nd quarter valued at about $26,000. Hantz Financial Services Inc. grew its holdings in shares of First Solar by 69.4% in the second quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after purchasing an additional 75 shares during the last quarter. Total Investment Management Inc. purchased a new position in shares of First Solar in the second quarter worth $36,000. Private Trust Co. NA raised its holdings in First Solar by 2,610.0% during the 2nd quarter. Private Trust Co. NA now owns 271 shares of the solar cell manufacturer’s stock valued at $45,000 after buying an additional 261 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in First Solar during the 2nd quarter valued at $47,000. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FSLR. KeyCorp restated an “overweight” rating on shares of First Solar in a research report on Friday, October 31st. Evercore boosted their price target on First Solar from $240.90 to $241.00 in a research report on Friday, October 31st. Rothschild & Co Redburn increased their target price on First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Solar in a research report on Monday, December 29th. Finally, BMO Capital Markets set a $263.00 price objective on shares of First Solar in a research note on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.61.

First Solar Price Performance

FSLR opened at $225.65 on Monday. The company’s 50-day simple moving average is $248.70 and its two-hundred day simple moving average is $233.73. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.55 and a current ratio of 1.91. The stock has a market capitalization of $24.21 billion, a P/E ratio of 17.33, a P/E/G ratio of 0.29 and a beta of 1.60. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $285.99.

First Solar Profile

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.