First Solar, Inc. $FSLR Shares Bought by Candriam S.C.A.

Candriam S.C.A. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 70.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,379 shares of the solar cell manufacturer’s stock after acquiring an additional 62,048 shares during the period. Candriam S.C.A. owned about 0.14% of First Solar worth $33,163,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in First Solar during the 2nd quarter worth about $212,621,000. Viking Global Investors LP grew its holdings in First Solar by 60.6% during the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after acquiring an additional 854,919 shares in the last quarter. Atreides Management LP purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $65,134,000. Ariel Investments LLC purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $50,869,000. Finally, Peconic Partners LLC acquired a new stake in shares of First Solar in the 2nd quarter valued at $49,662,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FSLR. Needham & Company LLC began coverage on First Solar in a research note on Wednesday, October 22nd. They issued a “buy” rating and a $286.00 price target on the stock. UBS Group increased their price objective on First Solar from $275.00 to $330.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Bank of America decreased their target price on First Solar from $291.00 to $271.00 and set a “buy” rating for the company in a research note on Thursday, January 22nd. TD Cowen increased their price target on shares of First Solar from $260.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, January 9th. Finally, Seaport Research Partners boosted their price objective on shares of First Solar from $217.00 to $305.00 and gave the stock a “buy” rating in a research report on Tuesday, November 4th. One research 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 company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $275.94.

First Solar Stock Up 1.6%

Shares of NASDAQ:FSLR opened at $222.13 on Tuesday. 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 cap of $23.84 billion, a P/E ratio of 17.06, a P/E/G ratio of 0.28 and a beta of 1.60. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $285.99. The firm has a fifty day moving average price of $251.37 and a 200 day moving average price of $232.53.

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.