Kentucky Retirement Systems Insurance Trust Fund Reduces Position in First Solar, Inc. (NASDAQ:FSLR)

Kentucky Retirement Systems Insurance Trust Fund lessened its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 large investors also recently bought and sold shares of the business. Great Diamond Partners LLC grew its stake in First Solar by 3.8% during the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after acquiring an additional 53 shares in the last quarter. Family Legacy Inc. grew its stake in shares of First Solar by 1.4% in the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after buying an additional 69 shares during the period. Harbor Investment Advisory LLC grew its stake in shares of First Solar by 36.0% in the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock valued at $46,000 after buying an additional 72 shares during the period. Atticus Wealth Management LLC grew its stake in shares of First Solar by 15.6% in the 1st quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock valued at $90,000 after buying an additional 72 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its stake in shares of First Solar by 10.7% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 765 shares of the solar cell manufacturer’s stock valued at $129,000 after buying an additional 74 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FSLR. Robert W. Baird dropped their price target on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Barclays increased their price target on shares of First Solar from $227.00 to $228.00 and gave the company an “overweight” rating in a research note on Wednesday, May 15th. Janney Montgomery Scott cut shares of First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Morgan Stanley increased their price objective on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. Finally, UBS Group increased their price objective on shares of First Solar from $270.00 to $350.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus price target of $273.96.

First Solar Stock Up 4.9 %

Shares of FSLR traded up $10.55 during midday trading on Friday, reaching $226.74. The stock had a trading volume of 2,209,270 shares, compared to its average volume of 2,738,298. First Solar, Inc. has a 1-year low of $129.21 and a 1-year high of $306.77. The company’s fifty day simple moving average is $247.23 and its two-hundred day simple moving average is $193.10. The company has a market cap of $24.27 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 0.30 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLR) last posted its 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 firm had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s revenue was up 44.8% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. Equities research analysts expect that First Solar, Inc. will post 13.58 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction 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 transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock valued at $12,540,428 in the last ninety days. 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.