Guinness Asset Management LTD Trims Position in First Solar, Inc. $FSLR

Guinness Asset Management LTD trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 8.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 52,388 shares of the solar cell manufacturer’s stock after selling 4,814 shares during the period. Guinness Asset Management LTD’s holdings in First Solar were worth $11,710,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in FSLR. Harmony Asset Management LLC purchased a new position in shares of First Solar during the third quarter worth $2,114,000. ABN AMRO Bank N.V. grew its position in First Solar by 0.6% during the 3rd quarter. ABN AMRO Bank N.V. now owns 185,311 shares of the solar cell manufacturer’s stock worth $40,715,000 after purchasing an additional 1,088 shares during the period. Bessemer Group Inc. raised its stake in shares of First Solar by 22.1% during the 3rd quarter. Bessemer Group Inc. now owns 2,998 shares of the solar cell manufacturer’s stock valued at $661,000 after buying an additional 542 shares during the last quarter. Triglav Investments D.O.O. lifted its holdings in shares of First Solar by 71.6% in the 3rd quarter. Triglav Investments D.O.O. now owns 40,335 shares of the solar cell manufacturer’s stock valued at $8,892,000 after buying an additional 16,835 shares during the period. Finally, SBI Securities Co. Ltd. lifted its holdings in shares of First Solar by 29.8% in the 3rd quarter. SBI Securities Co. Ltd. now owns 1,263 shares of the solar cell manufacturer’s stock valued at $279,000 after buying an additional 290 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Down 1.6%

FSLR opened at $234.36 on Friday. The company has a market cap of $25.15 billion, a PE ratio of 18.00, a price-to-earnings-growth ratio of 0.31 and a beta of 1.60. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. The company has a 50-day moving average price of $253.28 and a 200 day moving average price of $231.23. The company has a quick ratio of 1.55, a current ratio of 1.91 and a debt-to-equity ratio of 0.03.

Wall Street Analyst Weigh In

Several research firms recently commented on FSLR. Citigroup raised their target price on First Solar from $198.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, October 14th. BMO Capital Markets set a $263.00 price objective on shares of First Solar in a research note on Thursday, January 29th. Evercore ISI lifted their target price on shares of First Solar from $240.90 to $241.00 in a report on Friday, October 31st. Morgan Stanley set a $275.00 price target on shares of First Solar in a report on Friday, October 31st. Finally, DZ Bank cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and nine have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $275.94.

First Solar Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.