Kentucky Retirement Systems Has $1.82 Million Position in First Solar, Inc. (NASDAQ:FSLR)

Kentucky Retirement Systems cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 0.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,066 shares of the solar cell manufacturer’s stock after selling 48 shares during the quarter. Kentucky Retirement Systems’ holdings in First Solar were worth $1,819,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in FSLR. Schroder Investment Management Group lifted its stake in shares of First Solar by 16.7% in the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its position in shares of First Solar by 11.1% in the first 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 buying an additional 279,719 shares during the last quarter. Park West Asset Management LLC acquired a new position in shares of First Solar during the 4th quarter valued at about $26,359,000. Swedbank AB bought a new position in shares of First Solar in the 1st quarter valued at approximately $21,815,000. Finally, Renaissance Technologies LLC acquired a new stake in First Solar in the 2nd quarter worth approximately $27,078,000. 92.08% of the stock is owned by institutional investors.

First Solar Trading Down 0.1 %

Shares of FSLR opened at $240.20 on Friday. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06. The stock 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. First Solar, Inc. has a 1 year low of $129.21 and a 1 year high of $306.77. The stock has a 50 day simple moving average of $221.89 and a 200-day simple moving average of $212.12.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on FSLR. UBS Group boosted their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Mizuho reiterated a “neutral” rating and issued a $274.00 price objective (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Janney Montgomery Scott downgraded First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Finally, DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research report on Thursday, August 1st. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $283.46.

Insider Activity at First Solar

In other news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were 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 owns 500 shares of the company’s stock, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders sold 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Insiders own 0.58% of the company’s stock.

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.