State of Alaska Department of Revenue Sells 225 Shares of First Solar, Inc. (NASDAQ:FSLR)

State of Alaska Department of Revenue lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 12,209 shares of the solar cell manufacturer’s stock after selling 225 shares during the quarter. State of Alaska Department of Revenue’s holdings in First Solar were worth $2,151,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FSLR. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the third quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in shares of First Solar during the third quarter worth $25,000. Kennebec Savings Bank acquired a new position in shares of First Solar during the third quarter worth $29,000. Larson Financial Group LLC lifted its holdings in shares of First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 107 shares during the period. Finally, Crews Bank & Trust acquired a new position in shares of First Solar during the fourth quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FSLR shares. Robert W. Baird cut their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Morgan Stanley cut their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Bank of America dropped their target price 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. Finally, The Goldman Sachs Group dropped their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. 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 stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $276.29.

First Solar Stock Down 3.2 %

FSLR stock opened at $162.89 on Tuesday. First Solar, Inc. has a twelve month low of $141.70 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock’s 50 day moving average is $183.24 and its 200-day moving average is $203.69. The firm has a market capitalization of $17.44 billion, a PE ratio of 14.03, a P/E/G ratio of 0.19 and a beta of 1.47.

About First Solar

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.