Mirae Asset Global Investments Co. Ltd. Sells 22,681 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mirae Asset Global Investments Co. Ltd. trimmed its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 40.3% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 33,629 shares of the solar cell manufacturer's stock after selling 22,681 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in First Solar were worth $6,033,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FSLR. Wellington Management Group LLP raised its holdings in shares of 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 worth $523,166,000 after buying an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in First Solar by 1,757.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer's stock worth $136,242,000 after purchasing an additional 516,783 shares in the last quarter. Merewether Investment Management LP increased its holdings in First Solar by 993.4% in the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer's stock worth $80,553,000 after purchasing an additional 293,400 shares in the last quarter. Erste Asset Management GmbH acquired a new position in First Solar in the 3rd quarter worth about $67,652,000. Finally, International Assets Investment Management LLC increased its holdings 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 in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $1.29 during midday trading on Tuesday, reaching $161.60. The company's stock had a trading volume of 2,607,735 shares, compared to its average volume of 2,270,775. 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 stock has a market capitalization of $17.30 billion, a P/E ratio of 13.92, a PEG ratio of 0.19 and a beta of 1.47. The firm has a 50 day moving average price of $182.32 and a 200-day moving average price of $203.23. First Solar, Inc. has a 12-month low of $141.70 and a 12-month high of $306.77.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on FSLR shares. Susquehanna decreased their price target on First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a research note on Wednesday, October 30th. StockNews.com raised First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. The Goldman Sachs Group decreased their price target on First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Morgan Stanley cut their target price on First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research report on Wednesday, October 30th. Finally, Bank of America cut their target price on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a research report on Tuesday, January 28th. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $276.38.

First Solar 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.