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

California Public Employees Retirement System lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLRGet Rating) by 5.2% in the second quarter, according to its most recent filing with the SEC. The fund owned 177,808 shares of the solar cell manufacturer’s stock after selling 9,711 shares during the period. California Public Employees Retirement System owned about 0.17% of First Solar worth $12,114,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Covestor Ltd lifted its position in shares of First Solar by 97.7% during the 1st quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after acquiring an additional 208 shares during the last quarter. SeaCrest Wealth Management LLC acquired a new stake in First Solar during the 2nd quarter valued at $32,000. Wellington Shields Capital Management LLC acquired a new stake in First Solar during the 1st quarter valued at $67,000. Venture Visionary Partners LLC acquired a new stake in First Solar during the 2nd quarter valued at $118,000. Finally, Clearstead Advisors LLC raised its stake in First Solar by 22,940.0% during the 1st quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer’s stock valued at $193,000 after purchasing an additional 2,294 shares during the period. Institutional investors and hedge funds own 79.21% of the company’s stock.

First Solar Stock Up 1.0 %

FSLR stock opened at $166.60 on Monday. The company has a debt-to-equity ratio of 0.04, a current ratio of 4.09 and a quick ratio of 3.10. First Solar, Inc. has a 52-week low of $59.60 and a 52-week high of $167.58. The company has a 50-day moving average of $137.59 and a two-hundred day moving average of $103.60. The stock has a market capitalization of $17.76 billion, a price-to-earnings ratio of 189.32 and a beta of 1.26.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings results on Thursday, October 27th. The solar cell manufacturer reported ($0.46) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.30). First Solar had a net margin of 3.75% and a return on equity of 1.61%. The firm had revenue of $629.00 million for the quarter, compared to the consensus estimate of $747.97 million. During the same quarter last year, the company earned $0.42 earnings per share. The firm’s revenue was up 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that First Solar, Inc. will post -0.51 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, Director R Craig Kennedy sold 600 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $125.68, for a total transaction of $75,408.00. Following the completion of the sale, the director now directly owns 18,888 shares in the company, valued at $2,373,843.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.54% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on FSLR shares. JPMorgan Chase & Co. cut their target price on shares of First Solar from $157.00 to $145.00 and set an “overweight” rating on the stock in a research note on Thursday, October 20th. Roth Capital boosted their target price on shares of First Solar from $135.00 to $180.00 in a research note on Thursday, October 6th. Robert W. Baird boosted their target price on shares of First Solar from $164.00 to $180.00 in a research note on Friday, October 28th. Credit Suisse Group upped their price target on shares of First Solar to $137.00 in a research note on Tuesday, November 1st. Finally, Cowen upped their price target on shares of First Solar from $167.00 to $175.00 in a research note on Friday, October 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.96.

First Solar Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

See Also

Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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