First Solar, Inc. $FSLR Holdings Reduced by Teacher Retirement System of Texas

Teacher Retirement System of Texas trimmed its holdings in First Solar, Inc. (NASDAQ:FSLR) by 13.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 13,348 shares of the solar cell manufacturer’s stock after selling 2,122 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Solar were worth $2,944,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in the business. SFE Investment Counsel raised its position in shares of First Solar by 9.1% during the 2nd quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock worth $11,556,000 after buying an additional 5,852 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of First Solar in the second quarter valued at $1,323,000. State Street Corp lifted its holdings in shares of First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after purchasing an additional 111,927 shares during the last quarter. Greenup Street Wealth Management LLC purchased a new stake in First Solar during the third quarter valued at about $2,147,000. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock valued at $10,471,000 after acquiring an additional 20,884 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

Shares of First Solar stock opened at $249.41 on Thursday. The firm has a market cap of $26.76 billion, a P/E ratio of 19.16, a P/E/G ratio of 0.30 and a beta of 1.60. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $285.99. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.91 and a quick ratio of 1.55. The firm has a 50 day simple moving average of $256.66 and a 200 day simple moving average of $229.06.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). First Solar had a return on equity of 16.61% and a net margin of 27.73%.The business had revenue of $1.59 billion for the quarter, compared to the consensus estimate of $1.56 billion. During the same period last year, the firm earned $2.91 earnings per share. The company’s quarterly revenue was up 79.7% on a year-over-year basis. Sell-side analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, Director Michael T. Sweeney sold 4,500 shares of the stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the sale, the director directly owned 13,662 shares in the company, valued at $3,703,904.82. This represents a 24.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul H. Stebbins sold 7,000 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $262.40, for a total value of $1,836,800.00. Following the sale, the director directly owned 15,287 shares of the company’s stock, valued at approximately $4,011,308.80. The trade was a 31.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,912 shares of company stock worth $12,971,349 in the last quarter. Corporate insiders own 0.48% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on FSLR shares. Rothschild & Co Redburn raised their price objective on First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a research report on Thursday, November 13th. Wells Fargo & Company raised their price target on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a report on Friday, December 19th. Guggenheim raised their price objective on First Solar from $289.00 to $312.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Needham & Company LLC started coverage on shares of First Solar in a research report on Wednesday, October 22nd. They set a “buy” rating and a $286.00 target price for the company. Finally, Raymond James Financial began coverage on First Solar in a report on Monday, January 12th. They set a “market perform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.76.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.