Teachers Retirement System of The State of Kentucky Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Teachers Retirement System of The State of Kentucky lowered its holdings in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 114,267 shares of the solar cell manufacturer's stock after selling 34,576 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.11% of First Solar worth $14,447,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of FSLR. Vanguard Group Inc. grew its stake in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the period. Geode Capital Management LLC increased its stake in First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after acquiring an additional 63,739 shares during the period. Wellington Management Group LLP boosted its holdings in shares of First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after acquiring an additional 262,482 shares in the last quarter. Invesco Ltd. lifted its holdings in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after buying an additional 223,933 shares during the period. Finally, Norges Bank bought a new position in shares of First Solar in the 4th quarter worth about $317,399,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $1.66 during mid-day trading on Tuesday, reaching $179.99. 1,943,397 shares of the company were exchanged, compared to its average volume of 3,249,330. The company's 50-day simple moving average is $163.98 and its 200-day simple moving average is $153.50. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The stock has a market capitalization of $19.30 billion, a P/E ratio of 15.31, a P/E/G ratio of 0.34 and a beta of 1.52. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $262.72.

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

Insider Transactions at First Solar

In other First Solar news, insider Patrick James Buehler sold 1,600 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total transaction of $288,000.00. Following the transaction, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Koralewski sold 2,951 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research analyst reports. Guggenheim decreased their price target on shares of First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Susquehanna raised their price objective on shares of First Solar from $186.00 to $203.00 and gave the stock a "positive" rating in a report on Monday. UBS Group reiterated a "positive" rating on shares of First Solar in a report on Tuesday, July 8th. Piper Sandler cut their target price on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Finally, TD Cowen cut their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and a consensus target price of $225.73.

First Solar Company 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.