Jennison Associates LLC Cuts Stake in First Solar, Inc. (NASDAQ:FSLR)

Jennison Associates LLC lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,278 shares of the solar cell manufacturer’s stock after selling 1,011 shares during the period. Jennison Associates LLC’s holdings in First Solar were worth $8,332,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. U.S. Capital Wealth Advisors LLC raised its stake in First Solar by 11.8% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 8,355 shares of the solar cell manufacturer’s stock valued at $1,472,000 after buying an additional 883 shares during the last quarter. Golden State Equity Partners raised its position in shares of First Solar by 41,342.9% in the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer’s stock valued at $511,000 after purchasing an additional 2,894 shares during the last quarter. Journey Strategic Wealth LLC acquired a new stake in First Solar in the 4th quarter worth approximately $518,000. Tokio Marine Asset Management Co. Ltd. grew its position in First Solar by 5.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,283 shares of the solar cell manufacturer’s stock worth $579,000 after purchasing an additional 158 shares during the last quarter. Finally, Independence Bank of Kentucky increased its stake in First Solar by 2,620.0% during the 4th quarter. Independence Bank of Kentucky now owns 2,720 shares of the solar cell manufacturer’s stock valued at $479,000 after purchasing an additional 2,620 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Bank of America dropped their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Roth Mkm cut their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Wells Fargo & Company decreased their target price on First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Seaport Res Ptn upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Susquehanna decreased their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Three equities 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 stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.29.

First Solar Price Performance

First Solar stock opened at $162.37 on Thursday. The stock has a market capitalization of $17.38 billion, a P/E ratio of 13.99, a P/E/G ratio of 0.19 and a beta of 1.47. The company’s fifty day moving average price is $185.25 and its 200 day moving average price is $204.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 1 year low of $138.41 and a 1 year high of $306.77.

First Solar Company 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.