California State Teachers Retirement System trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 3.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,438 shares of the solar cell manufacturer’s stock after selling 4,630 shares during the quarter. California State Teachers Retirement System owned 0.13% of First Solar worth $9,613,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Penserra Capital Management LLC lifted its position in shares of First Solar by 381.4% in the 1st quarter. Penserra Capital Management LLC now owns 1,704 shares of the solar cell manufacturer’s stock worth $115,000 after purchasing an additional 1,350 shares during the period. Compagnie Lombard Odier SCmA lifted its position in shares of First Solar by 145.5% in the 4th quarter. Compagnie Lombard Odier SCmA now owns 2,700 shares of the solar cell manufacturer’s stock worth $182,000 after purchasing an additional 1,600 shares during the period. Round Hill Asset Management acquired a new position in shares of First Solar in the 4th quarter worth approximately $205,000. Cavalry Management Group LLC acquired a new position in shares of First Solar in the 1st quarter worth approximately $206,000. Finally, Two Sigma Securities LLC acquired a new position in shares of First Solar in the 4th quarter worth approximately $207,000. 52.30% of the stock is currently owned by hedge funds and other institutional investors.
In other First Solar news, insider Bryan Robert Schumaker sold 1,656 shares of the business’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $75.00, for a total transaction of $124,200.00. Following the completion of the sale, the insider now owns 848 shares in the company, valued at approximately $63,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 3,142 shares of the company’s stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $74.63, for a total transaction of $234,487.46. Following the completion of the sale, the insider now owns 81,027 shares of the company’s stock, valued at approximately $6,047,045.01. The disclosure for this sale can be found here. Insiders have sold a total of 24,873 shares of company stock valued at $1,713,879 in the last 90 days. 0.54% of the stock is currently owned by company insiders.
Shares of FSLR stock opened at $50.98 on Thursday. The firm has a market cap of $5.51 billion, a price-to-earnings ratio of 19.68, a price-to-earnings-growth ratio of 2.98 and a beta of 1.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 6.81 and a quick ratio of 6.49. First Solar, Inc. has a 12 month low of $38.36 and a 12 month high of $81.72.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 26th. The solar cell manufacturer reported $0.78 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.86. The business had revenue of $567.00 million during the quarter, compared to analyst estimates of $421.47 million. First Solar had a negative net margin of 3.51% and a positive return on equity of 6.26%. First Solar’s quarterly revenue was down 36.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.25 EPS. analysts forecast that First Solar, Inc. will post 1.77 EPS for the current year.
A number of research analysts have recently issued reports on FSLR shares. Bank of America upgraded shares of First Solar from a “neutral” rating to a “buy” rating in a research report on Wednesday, April 18th. UBS Group boosted their price target on shares of First Solar from $81.00 to $94.00 and gave the stock a “positive” rating in a research report on Monday, April 30th. ValuEngine upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating in a research report on Monday, April 2nd. Roth Capital set a $90.00 price target on shares of First Solar and gave the stock a “buy” rating in a research report on Sunday, April 22nd. Finally, JMP Securities downgraded shares of First Solar from an “outperform” rating to an “underperform” rating and dropped their price target for the stock from $87.00 to $46.00 in a research report on Wednesday, June 6th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $68.50.
First Solar Profile
First Solar, Inc provides photovoltaic solar energy solutions in the United States and internationally. It operates through two segments, Components and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators.
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