Rhumbline Advisers Lowers Holdings in First Solar, Inc. (NASDAQ:FSLR)

Rhumbline Advisers reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 8.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 192,315 shares of the solar cell manufacturer's stock after selling 17,832 shares during the period. Rhumbline Advisers owned about 0.18% of First Solar worth $33,893,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FSLR. Wellington Management Group LLP lifted its position in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock worth $523,166,000 after acquiring an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock valued at $136,242,000 after purchasing an additional 516,783 shares in the last quarter. Merewether Investment Management LP raised its stake in shares of First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock valued at $80,553,000 after purchasing an additional 293,400 shares during the period. Erste Asset Management GmbH purchased a new stake in First Solar during the 3rd quarter worth about $67,652,000. Finally, International Assets Investment Management LLC boosted its stake in First Solar by 24,844.0% in the 3rd quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock worth $542,560,000 after purchasing an additional 216,640 shares during the period. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Trading Down 5.3 %

NASDAQ:FSLR traded down $8.70 on Friday, reaching $155.39. The company's stock had a trading volume of 3,873,742 shares, compared to its average volume of 2,254,885. The firm has a market cap of $16.64 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 0.18 and a beta of 1.47. First Solar, Inc. has a 12-month low of $141.70 and a 12-month high of $306.77. The stock has a 50 day moving average price of $177.00 and a 200 day moving average price of $200.75. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. Royal Bank of Canada lowered their target price on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Susquehanna reduced their price target on shares of First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a research report on Wednesday, October 30th. Guggenheim reiterated a "buy" rating and issued a $335.00 price objective on shares of First Solar in a research report on Wednesday, January 22nd. Finally, Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Two investment 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. According to data from MarketBeat.com, First Solar currently has an average rating of "Buy" and an average target price 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.