First Solar, Inc. (NASDAQ:FSLR) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio lessened its position in First Solar, Inc. (NASDAQ:FSLR) by 4.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 38,728 shares of the solar cell manufacturer’s stock after selling 1,928 shares during the period. Public Employees Retirement System of Ohio’s holdings in First Solar were worth $9,660,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV increased its stake in shares of First Solar by 14.5% in the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after purchasing an additional 45 shares during the period. Davis Investment Partners LLC grew its holdings in First Solar by 0.6% in the 3rd 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 increased its position in First Solar by 0.5% in the 2nd 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. Gilman Hill Asset Management LLC raised its stake 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 valued at $455,000 after acquiring an additional 50 shares in the last quarter. Finally, Covestor Ltd raised its stake in First Solar by 6.4% during the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after acquiring an additional 55 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

FSLR has been the topic of a number of research analyst reports. Seaport Res Ptn raised First Solar to a “hold” rating in a report on Tuesday, November 5th. Jefferies Financial Group lowered their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating on the stock in a research note on Thursday, October 10th. Clarkson Capital started coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price target for the company. Royal Bank of Canada lowered their price objective on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Finally, Bank of America dropped their price objective on First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $280.71.

First Solar Price Performance

NASDAQ FSLR opened at $201.00 on Thursday. The company has a 50 day simple moving average of $200.95 and a 200-day simple moving average of $224.58. First Solar, Inc. has a 52-week low of $135.88 and a 52-week high of $306.77. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 17.31, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same quarter in the prior year, the firm earned $2.50 earnings per share. The company’s revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

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.