New York State Teachers Retirement System Sells 3,994 Shares of First Solar, Inc. (NASDAQ:FSLR)

New York State Teachers Retirement System lessened its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 4.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 94,168 shares of the solar cell manufacturer's stock after selling 3,994 shares during the quarter. New York State Teachers Retirement System owned about 0.09% of First Solar worth $21,231,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cambridge Trust Co. grew its position in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer's stock worth $546,000 after purchasing an additional 50 shares during the last quarter. Great Diamond Partners LLC increased its stake in First Solar by 3.8% during the first 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 during the period. Massmutual Trust Co. FSB ADV increased its stake in First Solar by 24.9% during the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer's stock valued at $70,000 after acquiring an additional 62 shares during the period. Family Legacy Inc. raised its holdings in 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 acquiring an additional 69 shares in the last quarter. Finally, Harbor Investment Advisory LLC raised its holdings in 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 acquiring an additional 72 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FSLR. DZ Bank upgraded First Solar from a "hold" rating to a "buy" rating and set a $280.00 price objective on the stock in a research report on Thursday, August 1st. Clarkson Capital began coverage on shares of First Solar in a research note on Wednesday, August 14th. They issued a "buy" rating and a $270.00 price objective for the company. Royal Bank of Canada reiterated an "outperform" rating and set a $315.00 target price on shares of First Solar in a research report on Wednesday, July 31st. 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 report on Tuesday, July 2nd. Finally, Piper Sandler upped their price objective on First Solar from $219.00 to $250.00 and gave the company an "overweight" rating in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat.com, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $275.36.

Insider Activity

In related news, CFO Alexander R. Bradley sold 16,051 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the company's stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the business'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 completion of the sale, 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 sold a total of 37,203 shares of company stock valued at $9,598,253 in the last ninety days. 0.58% of the stock is owned by insiders.

First Solar Trading Up 5.9 %

NASDAQ FSLR traded up $12.81 during trading hours on Friday, hitting $231.07. The company's stock had a trading volume of 1,271,568 shares, compared to its average volume of 2,450,218. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $306.77. The firm has a market capitalization of $24.73 billion, a P/E ratio of 23.92, a PEG ratio of 0.37 and a beta of 1.44. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average of $228.42 and a 200 day moving average of $201.51.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm's revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $1.85 EPS. Equities research analysts forecast that First Solar, Inc. will post 13.53 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.