State Board of Administration of Florida Retirement System decreased its position in First Solar, Inc. (NASDAQ:FSLR – Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 106,793 shares of the solar cell manufacturer’s stock after selling 5,700 shares during the period. State Board of Administration of Florida Retirement System’s holdings in First Solar were worth $17,257,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FSLR. First Pacific Financial purchased a new stake in First Solar in the 3rd quarter valued at about $27,000. Harbor Investment Advisory LLC purchased a new stake in shares of First Solar during the 3rd quarter worth approximately $32,000. Covestor Ltd increased its stake in shares of First Solar by 97.7% during the 1st quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 208 shares during the last quarter. RVW Wealth LLC purchased a new stake in shares of First Solar during the 3rd quarter worth approximately $36,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of First Solar by 46.7% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 220 shares of the solar cell manufacturer’s stock worth $42,000 after purchasing an additional 70 shares during the last quarter. Hedge funds and other institutional investors own 82.08% of the company’s stock.
Insiders Place Their Bets
In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction dated Tuesday, December 19th. The shares were sold at an average price of $176.02, for a total value of $422,448.00. Following the transaction, the insider now owns 42,041 shares in the company, valued at $7,400,056.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.58% of the stock is currently owned by insiders.
First Solar Stock Performance
Analyst Ratings Changes
Several equities research analysts have recently issued reports on FSLR shares. JPMorgan Chase & Co. upgraded shares of First Solar from a “neutral” rating to an “overweight” rating and decreased their price target for the stock from $239.00 to $220.00 in a research note on Thursday, October 19th. Mizuho lifted their price objective on shares of First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. BMO Capital Markets reduced their price objective on shares of First Solar from $226.00 to $216.00 and set an “outperform” rating for the company in a research note on Wednesday, November 1st. UBS Group reduced their price objective on shares of First Solar from $270.00 to $250.00 and set a “buy” rating for the company in a research note on Thursday, November 2nd. Finally, BNP Paribas initiated coverage on shares of First Solar in a report on Friday, October 20th. They issued an “outperform” rating and a $237.00 price target for the company. Six investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average target price of $234.00.
First Solar Profile
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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