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

Teachers Retirement System of The State of Kentucky cut its holdings in First Solar, Inc. (NASDAQ:FSLRGet Rating) by 88.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,518 shares of the solar cell manufacturer’s stock after selling 104,797 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in First Solar were worth $1,132,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Norges Bank acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $197,428,000. Goldman Sachs Group Inc. raised its holdings in shares of First Solar by 197.8% in the first quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock valued at $111,880,000 after purchasing an additional 887,443 shares during the last quarter. BlackRock Inc. raised its holdings in shares of First Solar by 5.1% in the fourth quarter. BlackRock Inc. now owns 13,598,161 shares of the solar cell manufacturer’s stock valued at $1,185,217,000 after purchasing an additional 657,674 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of First Solar by 74.4% in the first quarter. Renaissance Technologies LLC now owns 931,000 shares of the solar cell manufacturer’s stock valued at $77,962,000 after purchasing an additional 397,100 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of First Solar by 45.5% in the first quarter. Allianz Asset Management GmbH now owns 1,157,245 shares of the solar cell manufacturer’s stock valued at $96,907,000 after buying an additional 361,999 shares in the last quarter. 79.21% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FSLR. Oppenheimer raised shares of First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 target price for the company in a research note on Friday, July 29th. TheStreet raised shares of First Solar from a “c+” rating to a “b-” rating in a research note on Monday, August 15th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Tuesday. Susquehanna Bancshares raised their target price on shares of First Solar from $120.00 to $175.00 in a research note on Friday, September 9th. Finally, Piper Sandler raised their target price on shares of First Solar from $120.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, August 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Hold” and a consensus price target of $122.26.

First Solar Trading Down 2.8 %

Shares of First Solar stock opened at $131.77 on Friday. The firm has a 50-day moving average of $111.46 and a 200-day moving average of $86.04. The stock has a market cap of $14.05 billion, a PE ratio of 74.87 and a beta of 1.37. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $140.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.20 and a current ratio of 4.21.

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 business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $606.45 million. First Solar had a net margin of 7.63% and a return on equity of 3.21%. The company’s revenue was down 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.77 EPS. As a group, sell-side analysts forecast that First Solar, Inc. will post -0.06 EPS for the current year.

Insider Activity at First Solar

In related news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $134.62, for a total value of $80,772.00. Following the completion of the transaction, the director now owns 19,185 shares of the company’s stock, valued at $2,582,684.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other First Solar news, CTO Markus Gloeckler sold 478 shares of the business’s stock in a transaction dated Wednesday, August 17th. The stock was sold at an average price of $115.14, for a total transaction of $55,036.92. Following the completion of the transaction, the chief technology officer now owns 1,373 shares of the company’s stock, valued at $158,087.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $134.62, for a total value of $80,772.00. Following the transaction, the director now directly owns 19,185 shares of the company’s stock, valued at approximately $2,582,684.70. The disclosure for this sale can be found here. Insiders sold a total of 45,073 shares of company stock valued at $4,126,658 over the last quarter. 0.54% of the stock is owned by corporate insiders.

First Solar Profile

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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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