Public Employees Retirement System of Ohio Sells 2,098 Shares of First Solar, Inc. (NASDAQ:FSLR)

Public Employees Retirement System of Ohio decreased its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 36,630 shares of the solar cell manufacturer's stock after selling 2,098 shares during the quarter. Public Employees Retirement System of Ohio's holdings in First Solar were worth $6,456,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC increased its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Independent Advisor Alliance raised its position in shares of First Solar by 3.1% in the 4th quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock valued at $368,000 after purchasing an additional 63 shares in the last quarter. Huntington National Bank increased its holdings in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after acquiring an additional 68 shares during the last quarter. Evexia Wealth LLC increased its holdings in shares of First Solar by 2.1% in the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock valued at $586,000 after acquiring an additional 70 shares during the last quarter. Finally, Mutual Advisors LLC grew its stake in First Solar by 5.3% during the 4th quarter. Mutual Advisors LLC now owns 1,463 shares of the solar cell manufacturer's stock worth $279,000 after buying an additional 73 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company's stock.

First Solar Price Performance

Shares of FSLR traded up $3.33 during midday trading on Friday, hitting $159.28. 5,254,911 shares of the company traded hands, compared to its average volume of 3,050,574. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a 52 week low of $116.56 and a 52 week high of $306.77. The firm has a 50 day moving average of $140.67 and a 200-day moving average of $160.30. The stock has a market cap of $17.08 billion, a price-to-earnings ratio of 13.72, a PEG ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. During the same period in the previous year, the business posted $2.20 EPS. The firm's revenue was up 6.4% on a year-over-year basis. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 419 shares of the firm's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares of the company's stock, valued at approximately $624,247.20. This trade represents a 8.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the firm's stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 8,037 shares in the company, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,851 shares of company stock valued at $2,188,525. 0.48% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several analyst reports. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and upped their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. JPMorgan Chase & Co. lowered their target price on First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a report on Wednesday, February 26th. Guggenheim lowered their price objective 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. Piper Sandler lowered their price target on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, Citigroup decreased their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a report on Wednesday, February 26th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $227.37.

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.