First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,901 shares of the solar cell manufacturer’s stock after selling 200 shares during the period. Maryland State Retirement & Pension System’s holdings in First Solar were worth $1,040,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Prospera Financial Services Inc raised its position in shares of First Solar by 52.5% during the 3rd quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock valued at $508,000 after buying an additional 701 shares during the period. PNC Financial Services Group Inc. raised its position in First Solar by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after purchasing an additional 777 shares during the period. Advisors Asset Management Inc. raised its position in First Solar by 8.6% in the third quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer’s stock valued at $1,426,000 after purchasing an additional 452 shares during the period. Moors & Cabot Inc. grew its holdings in shares of First Solar by 17.0% during the 3rd quarter. Moors & Cabot Inc. now owns 1,313 shares of the solar cell manufacturer’s stock worth $328,000 after purchasing an additional 191 shares during the period. Finally, Citizens Financial Group Inc. RI acquired a new stake in shares of First Solar during the 3rd quarter worth about $213,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $131.32 on Monday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 52-week low of $124.96 and a 52-week high of $306.77. The stock has a 50 day moving average price of $156.26 and a 200 day moving average price of $187.86. The company has a market capitalization of $14.06 billion, a price-to-earnings ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. Research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have weighed in on FSLR. UBS Group lowered their target price on shares of First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a report on Thursday, February 27th. BMO Capital Markets restated an “outperform” rating and set a $230.00 price target (down from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Citigroup dropped their price objective on First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Finally, Piper Sandler decreased their target price on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

Insider Transactions at First Solar

In other news, CTO Markus Gloeckler sold 380 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 34,311 shares of company stock worth $4,767,158. Corporate insiders own 0.58% of the company’s stock.

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.