First Solar, Inc. (NASDAQ:FSLR) Shares Sold by State Board of Administration of Florida Retirement System

State Board of Administration of Florida Retirement System lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLRFree Report) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,793 shares of the solar cell manufacturer’s stock after selling 5,700 shares during the quarter. State Board of Administration of Florida Retirement System owned about 0.10% of First Solar worth $17,257,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. RFP Financial Group LLC raised its stake in shares of First Solar by 6,311.1% during the second quarter. RFP Financial Group LLC now owns 577 shares of the solar cell manufacturer’s stock worth $110,000 after purchasing an additional 568 shares during the last quarter. Guggenheim Capital LLC raised its position in First Solar by 2.4% in the second quarter. Guggenheim Capital LLC now owns 21,343 shares of the solar cell manufacturer’s stock worth $4,057,000 after acquiring an additional 510 shares in the last quarter. Sora Investors LLC purchased a new position in First Solar in the second quarter worth $10,455,000. Canada Pension Plan Investment Board purchased a new position in First Solar in the second quarter worth $5,585,000. Finally, Assenagon Asset Management S.A. raised its position in First Solar by 238.0% in the third quarter. Assenagon Asset Management S.A. now owns 66,154 shares of the solar cell manufacturer’s stock worth $10,690,000 after acquiring an additional 46,583 shares in the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $158.00, for a total value of $379,200.00. Following the completion of the transaction, the insider now owns 44,441 shares in the company, valued at approximately $7,021,678. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.58% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Morgan Stanley raised First Solar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $214.00 to $237.00 in a report on Friday, December 8th. Mizuho upped their target price on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. BNP Paribas began coverage on First Solar in a research note on Friday, October 20th. They set an “outperform” rating and a $237.00 price objective on the stock. Citigroup decreased their price objective on First Solar from $200.00 to $185.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 18th. Finally, Jefferies Financial Group began coverage on First Solar in a research note on Friday, December 15th. They set a “buy” rating and a $211.00 price objective on the stock. Six analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $234.00.

View Our Latest Stock Analysis on First Solar

First Solar Price Performance

Shares of NASDAQ FSLR opened at $151.50 on Monday. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The business has a 50 day moving average price of $156.54 and a two-hundred day moving average price of $163.43. The company has a quick ratio of 2.45, a current ratio of 3.19 and a debt-to-equity ratio of 0.07. The firm has a market cap of $16.19 billion, a PE ratio of 34.28 and a beta of 1.41.

First Solar Company Profile

(Free Report)

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.

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

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