Paragon Capital Management Inc. Invests $1.24 Million in First Solar, Inc. (NASDAQ:FSLR)

Paragon Capital Management Inc. purchased a new stake in shares of First Solar, Inc. (NASDAQ:FSLR) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,038 shares of the solar cell manufacturer’s stock, valued at approximately $1,240,000.

Several other institutional investors also recently bought and sold shares of the business. Gilman Hill Asset Management LLC raised its stake in shares of First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after acquiring an additional 50 shares during the period. Covestor Ltd raised its position in First Solar by 6.4% in the third quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after purchasing an additional 55 shares during the period. Field & Main Bank boosted its position in shares of First Solar by 4.1% in the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after buying an additional 55 shares during the period. Clear Harbor Asset Management LLC boosted its position in shares of First Solar by 0.6% in the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer’s stock worth $1,623,000 after buying an additional 55 shares during the period. Finally, Demars Financial Group LLC raised its holdings in shares of First Solar by 1.4% during the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after buying an additional 56 shares during the period. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $166.23 on Wednesday. The stock has a market cap of $17.80 billion, a P/E ratio of 14.32, a P/E/G ratio of 0.19 and a beta of 1.47. The firm’s 50-day simple moving average is $185.86 and its 200 day simple moving average is $205.23. First Solar, Inc. has a fifty-two week low of $135.88 and a fifty-two week high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

Analysts Set New Price Targets

A number of research firms have weighed in on FSLR. Morgan Stanley decreased their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a report on Wednesday, October 30th. Roth Mkm lowered their price target on shares of First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a report on Tuesday, October 15th. BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Citigroup upgraded First Solar from a “neutral” rating to a “buy” rating and raised their target price for the company from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Finally, Guggenheim reissued a “buy” rating and issued a $335.00 price target on shares of First Solar in a report on Wednesday, January 22nd. Three research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $276.29.

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.