Figure 8 Investment Strategies LLC Purchases New Position in First Solar, Inc. (NASDAQ:FSLR)

Figure 8 Investment Strategies LLC acquired a new stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 8,169 shares of the solar cell manufacturer's stock, valued at approximately $1,440,000. First Solar accounts for 1.4% of Figure 8 Investment Strategies LLC's holdings, making the stock its 28th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the third quarter worth about $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 increased its holdings 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 purchasing an additional 107 shares in the last quarter. Finally, Crews Bank & Trust acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $53,000. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Stock Up 1.9 %

NASDAQ:FSLR traded up $3.11 on Tuesday, hitting $162.87. 1,922,927 shares of the company's stock were exchanged, compared to its average volume of 2,194,455. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The firm has a 50-day moving average price of $178.41 and a 200-day moving average price of $201.28. The company has a market cap of $17.44 billion, a P/E ratio of 14.03, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 52 week low of $141.70 and a 52 week high of $306.77.

Analysts Set New Price Targets

A number of analysts recently weighed in on FSLR shares. Bank of America lowered their price target on shares of First Solar from $246.00 to $236.00 and set a "buy" rating for the company in a report on Tuesday, January 28th. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Wednesday, January 15th. Barclays lowered their target price on shares of First Solar from $275.00 to $273.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Janney Montgomery Scott raised shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 target price for the company in a report on Tuesday, October 29th. Finally, StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Buy" and a consensus price target of $276.38.

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.