First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by South Dakota Investment Council

South Dakota Investment Council raised its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 59.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 93,407 shares of the solar cell manufacturer's stock after acquiring an additional 35,006 shares during the period. South Dakota Investment Council owned approximately 0.09% of First Solar worth $11,809,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Garde Capital Inc. purchased a new stake in First Solar during the 1st quarter worth about $25,000. Larson Financial Group LLC lifted its position in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock worth $32,000 after purchasing an additional 219 shares during the last quarter. Abound Financial LLC purchased a new stake in shares of First Solar during the 1st quarter worth $45,000. Princeton Global Asset Management LLC purchased a new stake in shares of First Solar during the 1st quarter worth $51,000. Finally, Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter worth $53,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Up 1.3%

Shares of First Solar stock traded up $2.31 during trading on Friday, hitting $175.85. 2,610,358 shares of the stock traded hands, compared to its average volume of 3,258,395. The firm has a market cap of $18.86 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 0.34 and a beta of 1.52. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 52-week low of $116.56 and a 52-week high of $262.72. The stock's fifty day simple moving average is $163.98 and its 200 day simple moving average is $153.73.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. First Solar's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the firm earned $2.20 EPS. On average, equities analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction that occurred 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 completion of the sale, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. The trade was a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Patrick James Buehler sold 1,600 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $180.00, for a total transaction of $288,000.00. Following the sale, the insider directly owned 4,398 shares of the company's stock, valued at $791,640. The trade was a 26.68% decrease in their position. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock valued at $2,515,172 over the last quarter. 0.48% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Mizuho increased their price target on First Solar from $275.00 to $278.00 and gave the stock an "outperform" rating in a research note on Monday, July 14th. Guggenheim lowered their price target on First Solar from $253.00 to $202.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Wall Street Zen downgraded First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price target on the stock in a report on Tuesday, May 13th. Finally, Jefferies Financial Group set a $194.00 price objective on shares of First Solar and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $228.87.

About First Solar

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.