State of Tennessee Department of Treasury Sells 11,518 Shares of First Solar, Inc. (NASDAQ:FSLR)

State of Tennessee Department of Treasury cut its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 29.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,144 shares of the solar cell manufacturer's stock after selling 11,518 shares during the quarter. State of Tennessee Department of Treasury's holdings in First Solar were worth $4,960,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of First Solar by 0.9% during the 4th 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 grew its position in shares of First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares in the last quarter. Wellington Management Group LLP increased its holdings in First Solar by 12.5% in 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 during the last quarter. Invesco Ltd. grew its position in shares of First Solar by 13.9% during the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock valued at $323,410,000 after purchasing an additional 223,933 shares in the last quarter. Finally, Amundi lifted its position in shares of First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after buying an additional 426,797 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Glj Research upgraded First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target for the company in a research report on Thursday. UBS Group reduced their price target on shares of First Solar from $240.00 to $235.00 and set a "buy" rating on the stock in a research note on Wednesday. Bank of America reduced their target price on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research note on Thursday, February 27th. Finally, The Goldman Sachs Group cut their price target on First Solar from $235.00 to $204.00 and set a "buy" rating on the stock in a research note on Wednesday. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $225.53.

First Solar Stock Up 1.6 %

Shares of FSLR traded up $2.06 during trading on Thursday, reaching $127.88. The company's stock had a trading volume of 2,133,641 shares, compared to its average volume of 2,847,484. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a fifty day moving average of $131.89 and a two-hundred day moving average of $167.45.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The business had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.20 EPS. On average, sell-side analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares of the company's stock, valued at $7,066,815. This represents a 0.43 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.48% of the company's stock.

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.