Sumitomo Mitsui Trust Group Inc. Increases Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sumitomo Mitsui Trust Group Inc. boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 249,831 shares of the solar cell manufacturer's stock after purchasing an additional 5,691 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.23% of First Solar worth $44,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AlphaMark Advisors LLC purchased a new position in First Solar during the third quarter valued at $25,000. Strengthening Families & Communities LLC purchased a new position in First Solar during the third quarter valued at $25,000. Kennebec Savings Bank purchased a new position in First Solar during the third quarter valued at $29,000. Larson Financial Group LLC lifted its position in First Solar by 214.0% during 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, Sound Income Strategies LLC lifted its position in First Solar by 555.6% during the third quarter. Sound Income Strategies LLC now owns 236 shares of the solar cell manufacturer's stock valued at $59,000 after purchasing an additional 200 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Piper Sandler lifted their target price on First Solar from $210.00 to $250.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Janney Montgomery Scott raised First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a report on Tuesday, October 29th. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and raised their price target for the company from $218.00 to $259.00 in a report on Tuesday. Susquehanna decreased their price target on First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a report on Wednesday, October 30th. Finally, Royal Bank of Canada decreased their price target on First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. 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's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $276.38.

First Solar Trading Down 0.4 %

Shares of NASDAQ:FSLR traded down $0.58 during trading hours on Friday, hitting $159.76. 1,404,950 shares of the company's stock traded hands, compared to its average volume of 2,203,457. First Solar, Inc. has a 1 year low of $141.70 and a 1 year high of $306.77. The business has a fifty day moving average price of $180.02 and a 200-day moving average price of $202.20. The firm has a market capitalization of $17.10 billion, a P/E ratio of 13.76, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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.