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

New York State Common Retirement Fund boosted its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.8% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 66,960 shares of the solar cell manufacturer’s stock after purchasing an additional 1,200 shares during the period. New York State Common Retirement Fund owned approximately 0.06% of First Solar worth $8,466,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Garde Capital Inc. purchased a new position in First Solar in the 1st quarter valued at about $25,000. Abound Financial LLC purchased a new stake in shares of First Solar during the 1st quarter valued at approximately $45,000. Princeton Global Asset Management LLC purchased a new stake in shares of First Solar during the 1st quarter valued at approximately $51,000. Banque Transatlantique SA purchased a new stake in shares of First Solar during the 4th quarter valued at approximately $53,000. Finally, CoreFirst Bank & Trust purchased a new stake in shares of First Solar during the 4th quarter valued at approximately $54,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Up 1.3%

FSLR stock opened at $175.85 on Friday. The company’s 50 day simple moving average is $163.98 and its 200-day simple moving average is $153.73. The firm has a market capitalization of $18.86 billion, a PE ratio of 14.95, a P/E/G ratio of 0.34 and a beta of 1.52. First Solar, Inc. has a 12 month low of $116.56 and a 12 month high of $262.72. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the business posted $2.20 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on FSLR. Morgan Stanley set a $223.00 price target on shares of First Solar and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. Guggenheim dropped their price target on shares of First Solar from $253.00 to $202.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company dropped their price target on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating for the company in a research note on Wednesday, April 30th. Barclays dropped their price target on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, Susquehanna lowered their target price on shares of First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a research note on Monday, April 14th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $228.87.

Insiders Place Their Bets

In related news, CTO Markus Gloeckler sold 9,557 shares of the company’s stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer owned 8,037 shares in the company, valued at approximately $1,246,136.85. This represents a 54.32% 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 Michael Koralewski sold 2,951 shares of First Solar stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider owned 11,369 shares in the company, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. 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. 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.