First Solar, Inc. (NASDAQ:FSLR) Shares Purchased by Arizona State Retirement System

Arizona State Retirement System increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 29,512 shares of the solar cell manufacturer’s stock after buying an additional 377 shares during the period. Arizona State Retirement System’s holdings in First Solar were worth $5,201,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Strengthening Families & Communities LLC purchased a new stake in First Solar in the 3rd quarter valued at $25,000. Kennebec Savings Bank acquired a new stake in First Solar in the 3rd quarter worth about $29,000. Larson Financial Group LLC grew its holdings in First Solar by 214.0% in the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the period. Smartleaf Asset Management LLC grew its holdings in shares of First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares during the period. Finally, Crews Bank & Trust purchased a new position in First Solar in the fourth quarter valued at about $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

Shares of First Solar stock opened at $139.13 on Friday. The stock’s 50-day simple moving average is $167.08 and its 200-day simple moving average is $194.60. First Solar, Inc. has a 52 week low of $124.96 and a 52 week high of $306.77. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 11.98, a PEG ratio of 0.19 and a beta of 1.52. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, analysts expect that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently commented on FSLR shares. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a report on Wednesday, February 26th. Redburn Atlantic began coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Citigroup lowered their price objective on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. Finally, Bank of America cut their target price on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the sale, the insider now owns 3,549 shares in the company, valued at approximately $484,793.40. This represents a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

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.