First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,066 shares of the solar cell manufacturer’s stock after selling 48 shares during the period. Kentucky Retirement Systems’ holdings in First Solar were worth $1,819,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the fourth quarter worth about $27,000. Atlas Capital Advisors LLC increased its holdings in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after acquiring an additional 111 shares during the period. Riverview Trust Co bought a new stake in First Solar in the 1st quarter valued at about $32,000. Finally, Summit Securities Group LLC acquired a new position in First Solar during the 2nd quarter valued at about $36,000. 92.08% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. UBS Group lifted their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. William Blair initiated coverage on First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Finally, Roth Mkm reiterated a “buy” rating and issued a $320.00 target price (up previously from $230.00) on shares of First Solar in a research report on Friday, May 31st. Five investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $283.46.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by corporate insiders.

First Solar Price Performance

NASDAQ FSLR opened at $240.20 on Friday. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The stock’s 50-day moving average price is $221.89 and its two-hundred day moving average price is $212.12. The company has a market cap of $25.71 billion, a PE ratio of 25.18, a PEG ratio of 0.40 and a beta of 1.44. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same quarter in the prior year, the firm earned $1.85 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. On average, analysts predict that First Solar, Inc. will post 13.6 EPS for the current year.

First Solar Company 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.