Cibc World Market Inc. Buys 18,284 Shares of First Solar, Inc. $FSLR

Cibc World Market Inc. grew its stake in First Solar, Inc. (NASDAQ:FSLR) by 316.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,058 shares of the solar cell manufacturer’s stock after acquiring an additional 18,284 shares during the period. Cibc World Market Inc.’s holdings in First Solar were worth $5,306,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FSLR. Strategic Wealth Investment Group LLC purchased a new stake in shares of First Solar in the second quarter valued at approximately $26,000. Hantz Financial Services Inc. grew its position in shares of First Solar by 69.4% during the 2nd quarter. Hantz Financial Services Inc. now owns 183 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 75 shares in the last quarter. Total Investment Management Inc. purchased a new position in shares of First Solar during the second quarter valued at $36,000. NBT Bank N A NY raised its holdings in shares of First Solar by 550.0% in the third quarter. NBT Bank N A NY now owns 221 shares of the solar cell manufacturer’s stock valued at $49,000 after acquiring an additional 187 shares in the last quarter. Finally, Mather Group LLC. purchased a new stake in First Solar in the third quarter worth about $52,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Up 2.4%

First Solar stock opened at $225.65 on Friday. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $285.99. The business has a fifty day moving average price of $248.70 and a 200-day moving average price of $233.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The stock has a market capitalization 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 research firms have commented on FSLR. Royal Bank Of Canada raised their target price on shares of First Solar from $244.00 to $258.00 and gave the company an “outperform” rating in a research report on Tuesday, January 20th. Jefferies Financial Group downgraded shares of First Solar from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $269.00 to $260.00 in a research note on Wednesday, January 7th. Roth Mkm set a $300.00 target price on First Solar in a research report on Friday, October 31st. Rothschild & Co Redburn lifted their price target on First Solar from $150.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, November 13th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $300.00 price objective on shares of First Solar in a research note on Wednesday, January 7th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.61.

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.