New York State Common Retirement Fund Decreases Position in First Solar, Inc. (NASDAQ:FSLR)

New York State Common Retirement Fund cut its position in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 9.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 68,260 shares of the solar cell manufacturer's stock after selling 7,385 shares during the quarter. New York State Common Retirement Fund owned 0.06% of First Solar worth $17,027,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AlphaMark Advisors LLC bought a new stake in shares of First Solar during the 3rd quarter valued at approximately $25,000. Atlas Capital Advisors LLC increased its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer's stock worth $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of First Solar in the 2nd quarter valued at $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar during the 2nd quarter valued at $38,000. Finally, Alta Advisers Ltd acquired a new position in First Solar in the 2nd quarter worth about $45,000. Institutional investors own 92.08% of the company's stock.

Insider Buying and Selling at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the company's stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the business's stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Company insiders own 0.58% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on FSLR. Wells Fargo & Company reduced their price target on First Solar from $250.00 to $240.00 and set an "overweight" rating on the stock in a report on Wednesday, October 30th. William Blair began coverage on shares of First Solar in a research report on Thursday, August 29th. They issued a "market perform" rating for the company. Clarkson Capital initiated coverage on shares of First Solar in a report on Wednesday, August 14th. They set a "buy" rating and a $270.00 price target on the stock. Bank of America decreased their price objective on First Solar from $321.00 to $269.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price target on First Solar from $311.00 to $279.00 and set a "buy" rating on the stock in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $281.13.

First Solar Stock Down 10.1 %

Shares of NASDAQ FSLR traded down $21.87 during midday trading on Wednesday, hitting $194.02. 13,750,074 shares of the stock traded hands, compared to its average volume of 2,498,060. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The business has a 50 day moving average price of $220.87 and a two-hundred day moving average price of $225.16. The company has a market cap of $20.77 billion, a PE ratio of 15.29, a P/E/G ratio of 0.36 and a beta of 1.48.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts' consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. During the same quarter last year, the firm posted $2.50 EPS. The business's revenue for the quarter was up 10.7% compared to the same quarter last year. On average, equities analysts predict that First Solar, Inc. will post 13.12 EPS for the current 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.