Handelsbanken Fonder AB Buys 196,744 Shares of First Solar, Inc. (NASDAQ:FSLR)

Handelsbanken Fonder AB increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 110.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 375,010 shares of the solar cell manufacturer's stock after buying an additional 196,744 shares during the period. Handelsbanken Fonder AB owned 0.35% of First Solar worth $66,092,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of FSLR. Wellington Management Group LLP raised its stake 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 buying an additional 904,498 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of First Solar by 1,757.2% during the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock worth $136,242,000 after buying an additional 516,783 shares during the last quarter. Merewether Investment Management LP raised its stake in shares of First Solar by 993.4% during the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock worth $80,553,000 after buying an additional 293,400 shares during the last quarter. Erste Asset Management GmbH bought a new stake in shares of First Solar during the third quarter worth approximately $67,652,000. Finally, International Assets Investment Management LLC raised its stake in shares of First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer's stock worth $542,560,000 after buying an additional 216,640 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Stock Down 5.3 %

FSLR traded down $8.70 during trading hours on Friday, hitting $155.39. 3,874,743 shares of the company's stock were exchanged, compared to its average volume of 2,255,603. 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 stock's 50-day moving average is $176.11 and its two-hundred day moving average is $200.39. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The stock has a market cap of $16.64 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 0.18 and a beta of 1.47.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of analyst reports. Piper Sandler boosted their price objective on shares of First Solar from $210.00 to $250.00 and gave the company an "overweight" rating in a report on Monday, December 2nd. Royal Bank of Canada decreased their price objective on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating for the company in a report on Wednesday, October 30th. Bank of America decreased their price objective 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. Barclays decreased their price objective 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. Finally, BMO Capital Markets restated an "outperform" rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, First Solar has a consensus 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.