Kentucky Retirement Systems Sells 609 Shares of First Solar, Inc. (NASDAQ:FSLR)

Kentucky Retirement Systems cut its position in First Solar, Inc. (NASDAQ:FSLR) by 7.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,457 shares of the solar cell manufacturer’s stock after selling 609 shares during the quarter. Kentucky Retirement Systems’ holdings in First Solar were worth $1,860,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV boosted its stake in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after purchasing an additional 45 shares during the period. Davis Investment Partners LLC lifted its holdings in shares of First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after buying an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund boosted its position in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after acquiring an additional 49 shares during the period. Cambridge Trust Co. grew its stake in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC increased its holdings in First Solar by 2.8% during the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after acquiring an additional 50 shares during the period. Institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. UBS Group boosted their price target on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Truist Financial started coverage on First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 target price for the company. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 30th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $260.00 target price (down from $286.00) on shares of First Solar in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $280.50.

First Solar Stock Down 2.4 %

Shares of NASDAQ:FSLR opened at $190.45 on Monday. First Solar, Inc. has a 1 year low of $135.88 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The stock’s 50-day moving average is $216.28 and its 200 day moving average is $225.91. The company has a market cap of $20.39 billion, a PE ratio of 16.40, a P/E/G ratio of 0.33 and a beta of 1.48.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the business earned $2.50 EPS. Sell-side analysts anticipate that First Solar, Inc. will post 13.16 EPS for the current year.

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.