Vontobel Holding Ltd. Sells 31,131 Shares of First Solar, Inc. (NASDAQ:FSLR)

Vontobel Holding Ltd. lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 15.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 165,792 shares of the solar cell manufacturer's stock after selling 31,131 shares during the period. Vontobel Holding Ltd. owned 0.15% of First Solar worth $29,219,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC lifted its position in shares of First Solar by 9.1% during the 3rd quarter. CWM LLC now owns 3,971 shares of the solar cell manufacturer's stock worth $991,000 after purchasing an additional 331 shares during the last quarter. Exchange Traded Concepts LLC boosted its position in shares of First Solar by 429.9% in the third quarter. Exchange Traded Concepts LLC now owns 1,775 shares of the solar cell manufacturer's stock valued at $443,000 after acquiring an additional 1,440 shares during the period. Creative Planning grew its stake in shares of First Solar by 7.1% in the third quarter. Creative Planning now owns 17,003 shares of the solar cell manufacturer's stock worth $4,241,000 after acquiring an additional 1,121 shares during the last quarter. Naviter Wealth LLC acquired a new stake in shares of First Solar in the third quarter worth $723,000. Finally, Buffington Mohr McNeal boosted its holdings in First Solar by 22.0% in the 3rd quarter. Buffington Mohr McNeal now owns 4,786 shares of the solar cell manufacturer's stock valued at $1,194,000 after purchasing an additional 862 shares during the period. Institutional investors own 92.08% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on FSLR shares. Royal Bank of Canada dropped their price objective on shares of First Solar from $315.00 to $280.00 and set an "outperform" rating on the stock in a report on Wednesday, October 30th. Morgan Stanley lowered their price target on First Solar from $329.00 to $297.00 and set an "overweight" rating on the stock in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Citigroup raised First Solar from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Two research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $276.38.

First Solar Price Performance

NASDAQ FSLR traded up $1.71 on Tuesday, hitting $161.47. 1,001,376 shares of the company were exchanged, compared to its average volume of 2,163,998. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77. The firm has a 50 day moving average of $179.22 and a two-hundred day moving average of $201.63. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market cap of $17.29 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.19 and a beta of 1.47.

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.