First Solar, Inc. (NASDAQ:FSLR) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury cut its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,144 shares of the solar cell manufacturer's stock after selling 11,518 shares during the period. State of Tennessee Department of Treasury's holdings in First Solar were worth $4,960,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust purchased a new stake in shares of First Solar in the fourth quarter valued at $53,000. Hudson Edge Investment Partners Inc. acquired a new stake in shares of First Solar during the fourth quarter valued at $53,000. CoreFirst Bank & Trust purchased a new stake in First Solar during the 4th quarter worth about $54,000. Finally, Montag A & Associates Inc. raised its stake in First Solar by 18.8% in the 4th quarter. Montag A & Associates Inc. now owns 475 shares of the solar cell manufacturer's stock valued at $84,000 after purchasing an additional 75 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 380 shares of the business's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.48% of the company's stock.

First Solar Trading Up 4.0 %

NASDAQ:FSLR opened at $141.86 on Friday. The business's 50-day moving average is $133.46 and its two-hundred day moving average is $169.09. The firm has a market capitalization of $15.19 billion, a PE ratio of 12.22, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar, Inc. has a 12 month low of $116.56 and a 12 month 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.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate 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%. Research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Redburn Atlantic initiated coverage on shares of First Solar in a research note on Monday, March 3rd. They set a "neutral" rating on the stock. Truist Financial restated a "buy" rating and set a $245.00 target price (down previously from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. JPMorgan Chase & Co. cut their price target on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Wells Fargo & Company decreased their price objective on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a report on Wednesday, January 8th. Finally, Bank of America dropped their target price on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, First Solar has an average rating of "Moderate Buy" and a consensus price target of $249.96.

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.

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