abrdn plc Trims Stock Position in First Solar, Inc. (NASDAQ:FSLR)

abrdn plc lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 433,423 shares of the solar cell manufacturer's stock after selling 2,775 shares during the quarter. abrdn plc owned about 0.40% of First Solar worth $76,896,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. AlphaMark Advisors LLC bought a new position in shares of First Solar in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new position in shares of First Solar in the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new position in shares of First Solar in the third quarter valued at approximately $29,000. Larson Financial Group LLC boosted its position in shares of First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer's stock valued at $39,000 after acquiring an additional 107 shares during the period. Finally, Crews Bank & Trust bought a new position in shares of First Solar in the fourth quarter valued at approximately $53,000. Institutional investors own 92.08% of the company's stock.

First Solar Stock Up 0.4 %

Shares of FSLR stock traded up $0.67 during mid-day trading on Friday, reaching $168.34. 1,640,032 shares of the company's stock traded hands, compared to its average volume of 2,265,855. First Solar, Inc. has a 12 month low of $141.70 and a 12 month high of $306.77. The company has a market cap of $18.02 billion, a P/E ratio of 14.50, a P/E/G ratio of 0.19 and a beta of 1.47. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company's 50-day moving average price is $184.14 and its 200-day moving average price is $204.18.

Analyst Ratings Changes

FSLR has been the topic of a number of recent analyst reports. Citigroup raised shares of First Solar from a "neutral" rating to a "buy" rating and raised their target price for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Guggenheim reissued a "buy" rating and set a $335.00 price target on shares of First Solar in a research note on Wednesday, January 22nd. Susquehanna decreased their price target on shares of First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a research note on Wednesday, October 30th. Morgan Stanley decreased their price target on shares of First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. Finally, Barclays decreased their price target on shares of First Solar from $275.00 to $273.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $276.29.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.