Hartford Investment Management Co. Trims Position in First Solar, Inc. (NASDAQ:FSLR)

Hartford Investment Management Co. reduced its holdings in First Solar, Inc. (NASDAQ:FSLR) by 1.9% during the 4th quarter, Holdings Channel reports. The fund owned 6,611 shares of the solar cell manufacturer’s stock after selling 128 shares during the period. Hartford Investment Management Co.’s holdings in First Solar were worth $1,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FSLR. Western Financial Corp CA purchased a new position in shares of First Solar during the 3rd quarter valued at about $1,209,000. Whalen Wealth Management Inc. raised its position in First Solar by 47.0% during the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after acquiring an additional 1,554 shares in the last quarter. Stifel Financial Corp lifted its holdings in First Solar by 36.9% in the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after purchasing an additional 49,074 shares in the last quarter. Finally, Paragon Capital Management Inc. purchased a new position in shares of First Solar during the 4th quarter valued at approximately $1,240,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $159.76 on Friday. The firm has a market capitalization of $17.10 billion, a price-to-earnings ratio of 13.76, a PEG 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. The company’s 50-day moving average is $180.02 and its two-hundred day moving average is $202.20. First Solar, Inc. has a 1-year low of $141.70 and a 1-year high of $306.77.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FSLR. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $218.00 to $259.00 in a report on Tuesday. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Morgan Stanley cut their price objective on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. Finally, Robert W. Baird dropped their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Two equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and two have given 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.