Sumitomo Mitsui Trust Group Inc. Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Sumitomo Mitsui Trust Group Inc. grew its holdings in First Solar, Inc. (NASDAQ:FSLR) by 2.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 249,831 shares of the solar cell manufacturer’s stock after buying an additional 5,691 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in First Solar were worth $44,030,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Oakworth Capital Inc. raised its holdings in 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 valued at $1,369,000 after buying an additional 7,587 shares during the period. Y.D. More Investments Ltd raised its stake 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 period. Hager Investment Management Services LLC acquired a new position in shares of First Solar in the 4th quarter worth approximately $121,000. Paragon Capital Management Inc. purchased a new position in shares of First Solar during the 4th quarter worth approximately $1,240,000. Finally, E. Ohman J or Asset Management AB increased its holdings in First Solar by 124.9% in the 4th quarter. E. Ohman J or Asset Management AB now owns 157,216 shares of the solar cell manufacturer’s stock valued at $27,708,000 after purchasing an additional 87,316 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on FSLR. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Morgan Stanley decreased their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Royal Bank of Canada dropped their target price 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. Barclays reduced their price target on shares of First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Mizuho dropped their price objective on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating for the company in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $276.29.

First Solar Trading Down 3.2 %

FSLR opened at $162.89 on Tuesday. The firm has a market cap of $17.44 billion, a price-to-earnings ratio of 14.03, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 52 week low of $141.70 and a 52 week high of $306.77. The business’s 50 day moving average is $183.24 and its two-hundred day moving average is $203.69. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

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.