First Solar, Inc. $FSLR Shares Sold by ABN Amro Investment Solutions

ABN Amro Investment Solutions cut its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 5.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 89,280 shares of the solar cell manufacturer’s stock after selling 5,119 shares during the period. ABN Amro Investment Solutions owned approximately 0.08% of First Solar worth $19,689,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in FSLR. Vanguard Group Inc. boosted its position in First Solar by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 13,257,849 shares of the solar cell manufacturer’s stock valued at $2,194,704,000 after buying an additional 57,507 shares during the period. State Street Corp raised its stake in shares of First Solar by 2.1% in the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares in the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 0.9% in the second quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock valued at $471,927,000 after purchasing an additional 26,476 shares during the period. Viking Global Investors LP boosted its holdings in First Solar by 60.6% in the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares during the period. Finally, Schroder Investment Management Group grew its stake in First Solar by 3.7% during the 2nd quarter. Schroder Investment Management Group now owns 1,350,084 shares of the solar cell manufacturer’s stock worth $223,493,000 after purchasing an additional 47,646 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Rothschild & Co Redburn boosted their target price on shares of First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a research note on Thursday, November 13th. KeyCorp reaffirmed an “overweight” rating on shares of First Solar in a report on Friday, October 31st. Mizuho dropped their price objective on First Solar from $335.00 to $326.00 and set an “outperform” rating on the stock in a report on Wednesday. Wall Street Zen raised First Solar from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and issued a $316.00 price target on shares of First Solar in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $275.61.

First Solar Trading Up 2.4%

NASDAQ FSLR opened at $225.65 on Friday. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03. 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. The firm has a 50-day moving average price of $248.70 and a 200 day moving average price of $233.35.

First Solar Company 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.