Advisors Preferred LLC Takes Position in First Solar, Inc. (NASDAQ:FSLR)

Advisors Preferred LLC purchased a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,662 shares of the solar cell manufacturer’s stock, valued at approximately $1,242,000.

Other large investors have also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its stake in First Solar by 4.0% during the fourth quarter. Apollon Wealth Management LLC now owns 3,802 shares of the solar cell manufacturer’s stock worth $670,000 after purchasing an additional 145 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in First Solar by 1.9% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,266 shares of the solar cell manufacturer’s stock worth $1,986,000 after acquiring an additional 211 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of First Solar by 2.3% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 249,831 shares of the solar cell manufacturer’s stock worth $44,030,000 after purchasing an additional 5,691 shares during the last quarter. Oakworth Capital Inc. boosted its stake in First Solar by 4,238.5% during the 4th quarter. Oakworth Capital Inc. now owns 7,766 shares of the solar cell manufacturer’s stock valued at $1,369,000 after purchasing an additional 7,587 shares during the period. Finally, Y.D. More Investments Ltd grew its holdings in 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 worth $295,000 after buying an additional 675 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Performance

NASDAQ FSLR opened at $168.34 on Friday. First Solar, Inc. has a 52-week low of $141.70 and a 52-week high of $306.77. The stock has a market cap of $18.02 billion, a PE ratio of 14.50, a P/E/G ratio of 0.19 and a beta of 1.47. The firm has a 50-day moving average of $184.14 and a 200-day moving average of $204.31. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

Wall Street Analysts Forecast Growth

FSLR has been the subject of a number of recent analyst reports. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Barclays cut their price objective on First Solar from $275.00 to $273.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Mizuho lowered their price target on First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Robert W. Baird dropped their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $260.00 price objective (down from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $276.29.

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.