First Solar, Inc. (NASDAQ:FSLR) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 16.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 90,368 shares of the solar cell manufacturer’s stock after selling 17,339 shares during the period. New York State Common Retirement Fund’s holdings in First Solar were worth $15,569,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. First Pacific Financial purchased a new stake in First Solar in the third quarter valued at $27,000. Estabrook Capital Management purchased a new stake in First Solar in the third quarter valued at $29,000. Baystate Wealth Management LLC purchased a new stake in First Solar in the fourth quarter valued at $29,000. Headinvest LLC purchased a new stake in First Solar in the third quarter valued at $30,000. Finally, Rakuten Securities Inc. purchased a new stake in First Solar in the fourth quarter valued at $34,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Up 2.1 %

FSLR stock opened at $178.73 on Monday. The company has a market cap of $19.13 billion, a price-to-earnings ratio of 23.09, a PEG ratio of 0.31 and a beta of 1.41. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The firm has a 50-day moving average of $163.40 and a two-hundred day moving average of $157.28.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.07) EPS. As a group, analysts forecast that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on FSLR shares. Mizuho upped 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. Royal Bank of Canada reissued an “outperform” rating and set a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Roth Mkm reissued a “buy” rating and set a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. DZ Bank started coverage on shares of First Solar in a research note on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price on the stock. Finally, Janney Montgomery Scott started coverage on shares of First Solar in a research note on Friday, April 12th. They set a “buy” rating and a $236.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $233.92.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last 90 days. Insiders own 0.58% 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.