Mader & Shannon Wealth Management Inc. Purchases 5,897 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mader & Shannon Wealth Management Inc. lifted its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 69.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,363 shares of the solar cell manufacturer's stock after buying an additional 5,897 shares during the period. First Solar makes up approximately 1.6% of Mader & Shannon Wealth Management Inc.'s holdings, making the stock its 15th largest holding. Mader & Shannon Wealth Management Inc.'s holdings in First Solar were worth $2,531,000 as of its most recent SEC filing.

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

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $8.70 during trading on Friday, reaching $155.39. 3,874,743 shares of the company traded hands, compared to its average volume of 2,255,603. The firm has a 50 day simple moving average of $176.11 and a 200-day simple moving average of $200.39. First Solar, Inc. has a 52-week low of $141.70 and a 52-week high of $306.77. The stock has a market capitalization of $16.64 billion, a PE ratio of 13.38, a P/E/G ratio of 0.18 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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Bank of America cut their target price on shares of First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research note on Tuesday, January 28th. StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a report on Thursday, January 2nd. BMO Capital Markets restated an "outperform" rating and issued a $260.00 target price (down previously from $286.00) on shares of First Solar in a research note on Wednesday, October 30th. Robert W. Baird reduced their price target on First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada lowered their price objective on First Solar from $315.00 to $280.00 and set an "outperform" rating for the company in a research 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. According to MarketBeat, First Solar currently has an average rating of "Buy" and an average price target of $276.38.

First Solar Company Profile

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.