Teacher Retirement System of Texas Makes New Investment in First Solar, Inc. (NASDAQ:FSLR)

Teacher Retirement System of Texas bought a new position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 14,868 shares of the solar cell manufacturer's stock, valued at approximately $1,880,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Garde Capital Inc. bought a new position in shares of First Solar in the 1st quarter worth about $25,000. Princeton Global Asset Management LLC bought a new position in shares of First Solar in the 1st quarter worth about $51,000. Banque Transatlantique SA bought a new position in shares of First Solar in the 4th quarter worth about $53,000. CoreFirst Bank & Trust bought a new position in shares of First Solar in the 4th quarter worth about $54,000. Finally, Rakuten Securities Inc. raised its position in shares of First Solar by 116.3% in the 1st quarter. Rakuten Securities Inc. now owns 465 shares of the solar cell manufacturer's stock worth $59,000 after acquiring an additional 250 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. UBS Group reissued a "positive" rating on shares of First Solar in a research report on Tuesday, July 8th. Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price for the company in a research report on Thursday, May 1st. TD Cowen decreased their target price on First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Mizuho boosted their target price on First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Finally, Barclays decreased their target price on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $228.69.

Insider Activity at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of the company'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 transaction, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock worth $2,515,172. Insiders own 0.48% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ FSLR traded down $2.65 during midday trading on Friday, reaching $162.44. The company's stock had a trading volume of 2,136,077 shares, compared to its average volume of 3,265,946. First Solar, Inc. has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a 50 day moving average price of $160.16 and a 200-day moving average price of $153.86. The stock has a market capitalization of $17.42 billion, a P/E ratio of 13.81, a PEG ratio of 0.32 and a beta of 1.52. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

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

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.