Public Employees Retirement System of Ohio Acquires New Shares in First Solar, Inc. $FSLR

Public Employees Retirement System of Ohio acquired a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 28,998 shares of the solar cell manufacturer's stock, valued at approximately $6,842,000.

Other large investors have also added to or reduced their stakes in the company. Root Financial Partners LLC lifted its holdings in shares of First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock worth $76,000 after buying an additional 45 shares in the last quarter. Fiduciary Financial Group LLC grew its stake in First Solar by 2.3% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer's stock valued at $478,000 after acquiring an additional 45 shares in the last quarter. FIL Ltd grew its stake in First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock valued at $185,000 after acquiring an additional 46 shares in the last quarter. Fielder Capital Group LLC increased its holdings in First Solar by 4.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock worth $312,000 after acquiring an additional 47 shares during the period. Finally, Burford Brothers Inc. lifted its stake in First Solar by 0.3% in the 4th quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer's stock worth $4,984,000 after purchasing an additional 48 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

First Solar Trading Down 1.1%

FSLR opened at $199.65 on Wednesday. The stock has a market capitalization of $21.45 billion, a P/E ratio of 12.31, a PEG ratio of 0.54 and a beta of 1.74. First Solar, Inc. has a 12-month low of $182.99 and a 12-month high of $320.95. The stock has a 50-day moving average price of $221.20 and a 200-day moving average price of $223.02.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, topping the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.06 billion. During the same period last year, the firm posted $3.18 earnings per share. The business's revenue was down 3.4% compared to the same quarter last year. On average, equities research analysts predict that First Solar, Inc. will post 17.77 EPS for the current year.

Insider Buying and Selling

In related news, CTO Markus Gloeckler sold 3,425 shares of the stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the completion of the sale, the chief technology officer directly owned 7,471 shares in the company, valued at $1,635,775.45. This represents a 31.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of First Solar stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the transaction, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 15,081 shares of company stock valued at $3,457,086 over the last three months. 0.39% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FSLR shares. Susquehanna boosted their price target on shares of First Solar from $250.00 to $270.00 and gave the company a "positive" rating in a research report on Friday, July 10th. Freedom Capital upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 5th. Argus reissued a "buy" rating and set a $275.00 price objective on shares of First Solar in a research note on Wednesday, August 26th. Robert W. Baird set a $318.00 target price on First Solar and gave the stock an "outperform" rating in a research report on Tuesday, August 11th. Finally, BMO Capital Markets lowered First Solar from a "hold" rating to a "market perform" rating in a research note on Thursday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, twelve have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $266.27.

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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