Van ECK Associates Corp Has $7.96 Million Stock Holdings in First Solar, Inc. (NASDAQ:FSLR)

Van ECK Associates Corp raised its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,139 shares of the solar cell manufacturer's stock after acquiring an additional 2,102 shares during the quarter. Van ECK Associates Corp's holdings in First Solar were worth $7,955,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of First Solar by 2.2% during the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock worth $1,236,383,000 after purchasing an additional 108,984 shares during the last quarter. Geode Capital Management LLC raised its stake in First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer's stock valued at $647,440,000 after buying an additional 24,143 shares in the last quarter. Wellington Management Group LLP lifted 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 worth $523,166,000 after buying an additional 904,498 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer's stock worth $434,977,000 after acquiring an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of First Solar by 7.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer's stock valued at $331,924,000 after acquiring an additional 90,249 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR stock traded down $8.70 during trading hours on Friday, hitting $155.39. 3,874,743 shares of the stock traded hands, compared to its average volume of 2,255,603. The stock has a 50-day simple moving average of $176.11 and a 200 day simple moving average of $200.39. The company has a market cap of $16.64 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.18 and a beta of 1.47. First Solar, Inc. has a one year low of $141.70 and a one year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an "outperform" rating on the stock in a research note on Wednesday, October 30th. Janney Montgomery Scott upgraded shares of First Solar from a "neutral" rating to a "buy" rating and set a $260.00 price target on the stock in a research report on Tuesday, October 29th. BMO Capital Markets reaffirmed an "outperform" rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their target price on shares of First Solar from $311.00 to $279.00 and set a "buy" rating on the stock in a report on Wednesday, October 30th. Finally, Susquehanna dropped their price target on First Solar from $280.00 to $252.00 and set a "positive" rating on the stock in a research report on Wednesday, October 30th. Two equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Buy" and a consensus 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.