Mengis Capital Management Inc. Sells 1,000 Shares of First Solar, Inc. (NASDAQ:FSLR)

Mengis Capital Management Inc. lowered its position in First Solar, Inc. (NASDAQ:FSLR) by 16.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 5,162 shares of the solar cell manufacturer’s stock after selling 1,000 shares during the period. Mengis Capital Management Inc.’s holdings in First Solar were worth $910,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in shares of First Solar by 16.2% in the fourth quarter. IFP Advisors Inc now owns 1,376 shares of the solar cell manufacturer’s stock valued at $244,000 after purchasing an additional 192 shares during the last quarter. RWC Asset Management LLP purchased a new stake in shares of First Solar in the fourth quarter valued at about $16,745,000. BCGM Wealth Management LLC raised its holdings in shares of First Solar by 34.0% in the fourth quarter. BCGM Wealth Management LLC now owns 8,975 shares of the solar cell manufacturer’s stock valued at $1,582,000 after purchasing an additional 2,279 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of First Solar in the fourth quarter valued at about $1,440,000. Finally, Fjarde AP Fonden Fourth Swedish National Pension Fund raised its holdings in shares of First Solar by 27.3% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,000 shares of the solar cell manufacturer’s stock valued at $3,701,000 after purchasing an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on FSLR shares. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Guggenheim restated a “buy” rating and set a $335.00 price objective on shares of First Solar in a report on Wednesday, January 22nd. Royal Bank of Canada decreased their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating for the company in a report on Wednesday, October 30th. Piper Sandler raised their price objective on shares of First Solar from $210.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, BMO Capital Markets restated an “outperform” rating and set a $260.00 price objective (down previously from $286.00) on shares of First Solar in a report on Wednesday, October 30th. Two analysts have rated the stock with a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $276.38.

First Solar Price Performance

FSLR stock opened at $152.91 on Tuesday. First Solar, Inc. has a 12 month low of $141.76 and a 12 month high of $306.77. The firm has a market capitalization of $16.37 billion, a P/E ratio of 13.17, 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 firm has a 50 day moving average of $175.36 and a 200-day moving average of $199.83.

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.