Teachers Retirement System of The State of Kentucky Has $14.45 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Teachers Retirement System of The State of Kentucky reduced its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.2% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 114,267 shares of the solar cell manufacturer's stock after selling 34,576 shares during the period. Teachers Retirement System of The State of Kentucky owned about 0.11% of First Solar worth $14,447,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. grew its stake in shares of First Solar by 396.5% during the 1st 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. grew 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 valued at $6,160,000 after buying an additional 3,226 shares during the period. Vontobel Holding Ltd. grew its stake in shares of First Solar by 14.2% during the 1st quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after buying an additional 23,528 shares during the period. Oakworth Capital Inc. grew its stake 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 buying an additional 1,916 shares during the period. Finally, Ethic Inc. grew its stake 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 buying an additional 4,542 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

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 shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This represents a 20.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the company's 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 completion of the transaction, the insider owned 4,398 shares in the company, valued at approximately $791,640. This represents a 26.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is owned by corporate insiders.

First Solar Price Performance

FSLR stock traded down $1.07 on Thursday, hitting $178.70. 758,151 shares of the company's stock traded hands, compared to its average volume of 3,911,959. First Solar, Inc. has a 1-year low of $116.56 and a 1-year high of $262.72. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 15.21, a P/E/G ratio of 0.35 and a beta of 1.52. The stock has a fifty day moving average of $164.19 and a 200-day moving average of $153.63. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $844.57 million during the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 29.72% and a return on equity of 16.32%. The firm's revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the company posted $2.20 EPS. On average, analysts forecast that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FSLR shares. KeyCorp lowered shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 target price on the stock. in a report on Wednesday, April 30th. Robert W. Baird reduced their target price on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Wells Fargo & Company cut their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. Susquehanna boosted 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. Finally, Bank of America boosted their price objective on shares of First Solar from $185.00 to $201.00 and gave the stock a "buy" rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.73.

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.