Teachers Retirement System of The State of Kentucky Has $1.13 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Teachers Retirement System of The State of Kentucky reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLRGet Rating) by 88.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,518 shares of the solar cell manufacturer’s stock after selling 104,797 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in First Solar were worth $1,132,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in FSLR. Charles Schwab Investment Management Inc. boosted its holdings in shares of First Solar by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 651,178 shares of the solar cell manufacturer’s stock worth $56,757,000 after purchasing an additional 14,936 shares during the period. Geode Capital Management LLC lifted its stake in First Solar by 3.6% in the fourth quarter. Geode Capital Management LLC now owns 1,347,767 shares of the solar cell manufacturer’s stock valued at $117,471,000 after acquiring an additional 46,510 shares during the last quarter. Blair William & Co. IL lifted its stake in First Solar by 0.7% in the fourth quarter. Blair William & Co. IL now owns 49,238 shares of the solar cell manufacturer’s stock valued at $4,292,000 after acquiring an additional 319 shares during the last quarter. ETF Managers Group LLC lifted its stake in First Solar by 5.0% in the fourth quarter. ETF Managers Group LLC now owns 7,826 shares of the solar cell manufacturer’s stock valued at $689,000 after acquiring an additional 372 shares during the last quarter. Finally, Unigestion Holding SA acquired a new stake in First Solar in the fourth quarter valued at approximately $213,000. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael Koralewski sold 1,822 shares of the stock in a transaction dated Friday, July 1st. The shares were sold at an average price of $67.58, for a total transaction of $123,130.76. Following the completion of the sale, the insider now owns 1,007 shares in the company, valued at approximately $68,053.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, Director R Craig Kennedy sold 600 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $64.79, for a total transaction of $38,874.00. Following the sale, the director now owns 20,385 shares of the company’s stock, valued at approximately $1,320,744.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Michael Koralewski sold 1,822 shares of the stock in a transaction dated Friday, July 1st. The stock was sold at an average price of $67.58, for a total transaction of $123,130.76. Following the sale, the insider now directly owns 1,007 shares in the company, valued at approximately $68,053.06. The disclosure for this sale can be found here. Insiders sold 45,073 shares of company stock worth $4,126,658 in the last quarter. 0.54% of the stock is owned by corporate insiders.

First Solar Trading Down 2.8 %

Shares of First Solar stock opened at $131.77 on Friday. The stock has a market capitalization of $14.05 billion, a P/E ratio of 74.87 and a beta of 1.37. The company has a quick ratio of 3.20, a current ratio of 4.21 and a debt-to-equity ratio of 0.03. The company has a 50-day simple moving average of $111.46 and a 200 day simple moving average of $86.04. First Solar, Inc. has a 12-month low of $59.60 and a 12-month high of $140.64.

First Solar (NASDAQ:FSLRGet Rating) last announced its earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). The firm had revenue of $621.00 million for the quarter, compared to analyst estimates of $606.45 million. First Solar had a return on equity of 3.21% and a net margin of 7.63%. The company’s revenue for the quarter was down 1.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.77 EPS. Research analysts expect that First Solar, Inc. will post -0.06 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of First Solar from $141.00 to $152.00 in a research note on Wednesday, August 31st. Susquehanna lifted their target price on shares of First Solar from $120.00 to $175.00 and gave the company a “positive” rating in a research note on Friday, September 9th. Guggenheim upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $135.00 target price for the company in a research note on Monday, August 8th. Susquehanna Bancshares lifted their price target on shares of First Solar from $120.00 to $175.00 in a research report on Friday, September 9th. Finally, TheStreet raised shares of First Solar from a “c+” rating to a “b-” rating in a research report on Monday, August 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, First Solar presently has an average rating of “Hold” and a consensus target price of $122.26.

About First Solar

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

See Also

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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