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

abrdn plc trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 433,423 shares of the solar cell manufacturer’s stock after selling 2,775 shares during the quarter. abrdn plc owned 0.40% of First Solar worth $76,896,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its stake in shares of First Solar by 75.8% in the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares during the period. Robeco Institutional Asset Management B.V. boosted its holdings in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the last quarter. Merewether Investment Management LP increased its position in First Solar by 993.4% during the 3rd quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after purchasing an additional 293,400 shares during the period. Erste Asset Management GmbH bought a new position in First Solar during the 3rd quarter worth approximately $67,652,000. Finally, International Assets Investment Management LLC increased its position in shares of First Solar by 24,844.0% during the third quarter. International Assets Investment Management LLC now owns 217,512 shares of the solar cell manufacturer’s stock worth $542,560,000 after buying an additional 216,640 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of First Solar stock opened at $166.23 on Wednesday. The firm has a market capitalization of $17.80 billion, a P/E ratio of 14.32, 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. The business’s fifty day simple moving average is $185.86 and its 200 day simple moving average is $205.23. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Royal Bank of Canada dropped their target price on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a report on Wednesday, October 30th. Evercore ISI cut their target price on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, January 15th. Robert W. Baird reduced their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, Piper Sandler boosted 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. Three investment 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus 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.