Union Bancaire Privee UBP SA Purchases New Stake in First Solar, Inc. (NASDAQ:FSLR)

Union Bancaire Privee UBP SA purchased a new stake in First Solar, Inc. (NASDAQ:FSLR) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 8,422 shares of the solar cell manufacturer’s stock, valued at approximately $1,440,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of First Solar by 27.3% during the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,000 shares of the solar cell manufacturer’s stock worth $3,701,000 after purchasing an additional 4,500 shares during the period. TCW Group Inc. raised its holdings in shares of First Solar by 104.5% during the fourth quarter. TCW Group Inc. now owns 33,490 shares of the solar cell manufacturer’s stock worth $5,902,000 after purchasing an additional 17,116 shares during the period. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the fourth quarter worth $53,000. Summerhill Capital Management lnc. grew its position in shares of First Solar by 20.7% during the fourth quarter. Summerhill Capital Management lnc. now owns 44,243 shares of the solar cell manufacturer’s stock worth $7,797,000 after acquiring an additional 7,576 shares during the last quarter. Finally, ING Groep NV bought a new position in shares of First Solar during the fourth quarter worth about $2,600,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR stock opened at $155.39 on Monday. 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 one year low of $141.70 and a one year high of $306.77. The firm has a market capitalization of $16.64 billion, a PE ratio of 13.38, a P/E/G ratio of 0.19 and a beta of 1.47. The firm has a 50-day moving average of $176.11 and a two-hundred day moving average of $200.26.

Wall Street Analyst Weigh In

Several research firms have recently commented on FSLR. Mizuho upgraded shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price target for the company in a research report on Tuesday, October 29th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Piper Sandler increased their target price on shares of First Solar from $210.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. Finally, Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Two investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of “Buy” and a consensus price target 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.