First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems lessened its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 7,279 shares of the solar cell manufacturer’s stock after selling 77 shares during the quarter. Kentucky Retirement Systems’ holdings in First Solar were worth $920,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bank of New York Mellon Corp boosted its stake in shares of First Solar by 9.9% in the 4th quarter. Bank of New York Mellon Corp now owns 711,688 shares of the solar cell manufacturer’s stock valued at $125,428,000 after buying an additional 63,820 shares during the period. Ethic Inc. boosted its stake in shares of First Solar by 34.2% in the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer’s stock valued at $3,138,000 after buying an additional 4,542 shares during the period. Mirova US LLC boosted its stake in shares of First Solar by 961.0% in the 4th quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after buying an additional 585,394 shares during the period. Rhumbline Advisers boosted its stake in shares of First Solar by 5.2% in the 1st quarter. Rhumbline Advisers now owns 202,337 shares of the solar cell manufacturer’s stock valued at $25,581,000 after buying an additional 10,022 shares during the period. Finally, Mizuho Securities USA LLC boosted its stake in shares of First Solar by 46.2% in the 4th quarter. Mizuho Securities USA LLC now owns 10,147 shares of the solar cell manufacturer’s stock valued at $1,788,000 after buying an additional 3,206 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Insider Activity

In related news, insider Patrick James Buehler sold 1,868 shares of the company’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider now owns 5,998 shares of the company’s stock, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Koralewski sold 2,951 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider now directly owns 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,376 shares of company stock valued at $2,227,172. Company insiders own 0.48% of the company’s stock.

Analysts Set New Price Targets

FSLR has been the subject of several recent research reports. JPMorgan Chase & Co. decreased their price objective on First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Morgan Stanley set a $223.00 target price on First Solar and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Royal Bank Of Canada decreased their target price on First Solar from $237.00 to $214.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Mizuho boosted their target price on First Solar from $251.00 to $275.00 and gave the stock an “outperform” rating in a research note on Monday, June 2nd. Finally, Wolfe Research upgraded First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 target price for the company in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $229.19.

First Solar Trading Up 4.5%

NASDAQ:FSLR opened at $151.18 on Wednesday. The firm has a market cap of $16.21 billion, a P/E ratio of 12.86, a PEG ratio of 0.29 and a beta of 1.53. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The stock’s 50 day simple moving average is $151.00 and its 200-day simple moving average is $156.24. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period in the previous year, the firm posted $2.20 EPS. Equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

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.