First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund lowered its holdings in First Solar, Inc. (NASDAQ:FSLR) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,526 shares of the solar cell manufacturer’s stock after selling 280 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in First Solar were worth $595,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in FSLR. Pacer Advisors Inc. boosted its holdings in shares of First Solar by 68.9% in the fourth quarter. Pacer Advisors Inc. now owns 10,711 shares of the solar cell manufacturer’s stock worth $1,845,000 after buying an additional 4,369 shares during the period. Blue Trust Inc. boosted its holdings in shares of First Solar by 24.3% in the fourth quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer’s stock worth $71,000 after buying an additional 87 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of First Solar by 25.8% in the fourth quarter. Pinnacle Associates Ltd. now owns 2,213 shares of the solar cell manufacturer’s stock worth $381,000 after buying an additional 454 shares during the period. Foster Victor Wealth Advisors LLC acquired a new position in shares of First Solar in the fourth quarter worth about $3,428,000. Finally, Oak Thistle LLC acquired a new position in shares of First Solar in the fourth quarter worth about $354,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity

In related news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders sold a total of 51,153 shares of company stock valued at $12,540,428 in the last ninety days. 0.58% of the stock is owned by insiders.

First Solar Price Performance

Shares of NASDAQ:FSLR traded up $10.55 on Friday, hitting $226.74. The stock had a trading volume of 2,209,270 shares, compared to its average volume of 2,738,298. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a market capitalization of $24.27 billion, a price-to-earnings ratio of 23.77, a price-to-earnings-growth ratio of 0.30 and a beta of 1.44. The firm’s 50 day moving average price is $247.23 and its 200-day moving average price is $193.10. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s revenue was up 44.8% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. On average, equities research analysts predict that First Solar, Inc. will post 13.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a report on Tuesday, July 16th. BMO Capital Markets raised their price target on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a report on Monday, June 10th. Mizuho restated a “neutral” rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a report on Thursday, May 30th. Bank of America raised their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Oppenheimer raised their price target on shares of First Solar from $271.00 to $325.00 and gave the stock an “outperform” rating in a report on Wednesday, June 12th. Five investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $273.96.

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.