First Solar, Inc. (NASDAQ:FSLR) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,294 shares of the solar cell manufacturer's stock after selling 46,402 shares during the quarter. California Public Employees Retirement System owned 0.14% of First Solar worth $26,237,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of FSLR. Clean Energy Transition LLP raised its holdings in First Solar by 948.8% in the 3rd quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer's stock valued at $191,750,000 after acquiring an additional 1,073,500 shares during the last quarter. Barclays PLC raised its holdings in First Solar by 125.5% in the 3rd quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer's stock valued at $137,130,000 after acquiring an additional 472,327 shares during the last quarter. Covalis Capital LLP raised its holdings in First Solar by 615.6% in the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer's stock valued at $65,931,000 after acquiring an additional 350,996 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer's stock worth $68,852,000 after buying an additional 333,496 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer's stock valued at $1,945,549,000 after buying an additional 279,424 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on FSLR. Wells Fargo & Company raised shares of First Solar from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Janney Montgomery Scott started coverage on shares of First Solar in a research report on Friday, April 12th. They set a "buy" rating and a $236.00 target price on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $269.00 price target on shares of First Solar in a research note on Wednesday, April 17th. Bank of America raised their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Finally, Mizuho boosted their price target on shares of First Solar from $188.00 to $196.00 and gave the company a "buy" rating in a report on Wednesday, January 3rd. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $231.36.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 679 shares of the firm's stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the sale, the chief technology officer now owns 14,473 shares of the company's stock, valued at $2,315,680. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Markus Gloeckler sold 679 shares of the business's stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the sale, the chief technology officer now directly owns 14,473 shares of the company's stock, valued at approximately $2,315,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the company's stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the sale, the insider now directly owns 37,412 shares of the company's stock, valued at $6,584,512. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

First Solar Trading Up 2.1 %

First Solar stock traded up $3.71 during mid-day trading on Friday, hitting $178.73. The company's stock had a trading volume of 1,339,017 shares, compared to its average volume of 1,987,694. The company has a 50 day moving average of $163.40 and a 200-day moving average of $157.28. The stock has a market cap of $19.13 billion, a PE ratio of 23.09, a P/E/G ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar, Inc. has a one year low of $129.21 and a one year high of $232.00.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts' consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts' expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm's revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted ($0.07) earnings per share. On average, research analysts anticipate that First Solar, Inc. will post 13.55 EPS for the current year.

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.