Public Employees Retirement Association of Colorado Sells 657 Shares of First Solar, Inc. (NASDAQ:FSLR)

Public Employees Retirement Association of Colorado lowered its stake in First Solar, Inc. (NASDAQ:FSLR) by 5.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,850 shares of the solar cell manufacturer’s stock after selling 657 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in First Solar were worth $1,831,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of First Solar during the 4th quarter worth about $298,123,000. Schroder Investment Management Group raised its position in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in shares of First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its position in First Solar by 2,009.8% in the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 180,681 shares of the solar cell manufacturer’s stock valued at $31,128,000 after purchasing an additional 172,117 shares during the period. Finally, Bull Oak Capital LLC increased its stake in First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after purchasing an additional 155,342 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of analyst reports. Guggenheim reduced their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a report on Thursday, May 2nd. Mizuho reissued a “neutral” rating and set a $274.00 price objective (up from $209.00) on shares of First Solar in a report on Thursday, May 30th. JPMorgan Chase & Co. raised their target price on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Susquehanna upped their price target on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Finally, DZ Bank cut First Solar from a “buy” rating to a “hold” rating and set a $270.00 price objective on the stock. in a research note on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $273.17.

First Solar Trading Up 0.7 %

Shares of First Solar stock opened at $221.88 on Tuesday. The company has a market capitalization of $23.75 billion, a P/E ratio of 23.10, a P/E/G ratio of 0.30 and a beta of 1.44. First Solar, Inc. has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a fifty day moving average of $247.71 and a 200 day moving average of $193.53.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. On average, sell-side analysts anticipate that First Solar, Inc. will post 13.58 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, Director Richard D. Chapman sold 3,165 shares of First Solar stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the transaction, the director now directly owns 1,045 shares of the company’s stock, valued at $199,051.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the transaction, the insider now owns 3,549 shares in the company, valued at $922,740. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,153 shares of company stock valued at $12,540,428. 0.58% of the stock is currently owned by company insiders.

About First Solar

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.