First Solar, Inc. (NASDAQ:FSLR) Shares Sold by New York State Teachers Retirement System

New York State Teachers Retirement System trimmed its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 12.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,831 shares of the solar cell manufacturer's stock after selling 12,857 shares during the quarter. New York State Teachers Retirement System owned approximately 0.09% of First Solar worth $11,610,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its position in First Solar by 396.5% during the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of First Solar by 7.1% during the 1st quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock worth $6,160,000 after acquiring an additional 3,226 shares in the last quarter. Oakworth Capital Inc. grew its position in shares of First Solar by 24.7% during the 1st quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after acquiring an additional 1,916 shares during the period. Ethic Inc. grew its position in shares of First Solar by 34.2% during the 4th quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock valued at $3,138,000 after acquiring an additional 4,542 shares during the period. Finally, Mirova US LLC increased 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 purchasing an additional 585,394 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total transaction of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares in the company, valued at $894,181.84. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 14,376 shares of company stock valued at $2,227,172 in the last quarter. Insiders own 0.48% of the company's stock.

First Solar Trading Up 8.7%

Shares of First Solar stock traded up $14.91 during mid-day trading on Friday, hitting $185.43. The stock had a trading volume of 6,399,688 shares, compared to its average volume of 3,233,808. The firm has a 50-day moving average of $155.79 and a two-hundred day moving average of $154.85. The firm has a market cap of $19.89 billion, a P/E ratio of 15.77, a price-to-earnings-growth ratio of 0.34 and a beta of 1.52. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The business 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 was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.20 earnings per share. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on the company. Bank of America dropped their price objective on First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Guggenheim decreased their target price on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Barclays reduced their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, BMO Capital Markets lowered their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $228.69.

First Solar 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.