abrdn plc Sells 2,775 Shares of First Solar, Inc. (NASDAQ:FSLR)

abrdn plc reduced its position in First Solar, Inc. (NASDAQ:FSLR) by 0.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 433,423 shares of the solar cell manufacturer’s stock after selling 2,775 shares during the period. abrdn plc’s holdings in First Solar were worth $76,896,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State Street Corp raised its position in shares of First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after purchasing an additional 108,984 shares during the period. Geode Capital Management LLC raised its holdings in First Solar by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after acquiring an additional 24,143 shares during the period. Wellington Management Group LLP lifted its position in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock worth $523,166,000 after acquiring an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its holdings in shares of First Solar by 0.9% in the third 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of First Solar by 7.3% during 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 purchasing an additional 90,249 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Down 0.6 %

NASDAQ FSLR opened at $166.23 on Wednesday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The stock has a market capitalization of $17.80 billion, a PE ratio of 14.32, 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 business’s 50-day moving average is $185.86 and its 200 day moving average is $205.23.

Analysts Set New Price Targets

FSLR has been the subject of several analyst reports. Jefferies Financial Group cut their target price on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Janney Montgomery Scott raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research note on Tuesday, October 29th. Barclays decreased their target price on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Guggenheim reissued a “buy” rating and issued a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Finally, Susquehanna decreased their price target on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.