First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Tobam

Tobam cut its stake in First Solar, Inc. (NASDAQ:FSLR) by 43.5% during the 4th quarter, HoldingsChannel reports. The fund owned 14,894 shares of the solar cell manufacturer’s stock after selling 11,473 shares during the period. Tobam’s holdings in First Solar were worth $2,625,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the stock. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of First Solar by 1.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,266 shares of the solar cell manufacturer’s stock worth $1,986,000 after purchasing an additional 211 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in First Solar by 2.3% during the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,831 shares of the solar cell manufacturer’s stock valued at $44,030,000 after buying an additional 5,691 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of First Solar by 4,238.5% in the 4th quarter. Oakworth Capital Inc. now owns 7,766 shares of the solar cell manufacturer’s stock worth $1,369,000 after acquiring an additional 7,587 shares in the last quarter. Y.D. More Investments Ltd increased its holdings in shares of First Solar by 67.5% in the 4th quarter. Y.D. More Investments Ltd now owns 1,675 shares of the solar cell manufacturer’s stock valued at $295,000 after acquiring an additional 675 shares during the last quarter. Finally, Hager Investment Management Services LLC acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $121,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ:FSLR opened at $167.67 on Friday. The company has a 50-day moving average of $184.76 and a 200-day moving average of $204.68. The firm has a market cap of $17.95 billion, a price-to-earnings ratio of 14.44, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a twelve month low of $141.70 and a twelve month high of $306.77.

Wall Street Analyst Weigh In

FSLR has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $335.00 price objective on shares of First Solar in a report on Wednesday, January 22nd. Susquehanna lowered their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research report on Wednesday, October 30th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. The Goldman Sachs Group lowered their target price on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a report on Wednesday, October 30th. Finally, Royal Bank of Canada reduced their price objective on First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $276.29.

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.