Teachers Retirement System of The State of Kentucky Acquires 46,475 Shares of First Solar, Inc. (NASDAQ:FSLR)

Teachers Retirement System of The State of Kentucky grew its stake in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 60.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 122,843 shares of the solar cell manufacturer's stock after purchasing an additional 46,475 shares during the quarter. Teachers Retirement System of The State of Kentucky owned approximately 0.11% of First Solar worth $30,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in FSLR. Sequoia Financial Advisors LLC grew its holdings in First Solar by 11.4% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,501 shares of the solar cell manufacturer's stock worth $338,000 after acquiring an additional 154 shares during the last quarter. V Square Quantitative Management LLC grew its stake in shares of First Solar by 13.7% in the second quarter. V Square Quantitative Management LLC now owns 2,286 shares of the solar cell manufacturer's stock worth $515,000 after purchasing an additional 276 shares during the last quarter. ORG Partners LLC purchased a new position in First Solar during the 2nd quarter valued at about $71,000. Cigna Investments Inc. New bought a new position in First Solar during the 2nd quarter valued at approximately $251,000. Finally, J.Safra Asset Management Corp purchased a new stake in First Solar in the 2nd quarter worth approximately $58,000. Institutional investors own 92.08% of the company's stock.

First Solar Stock Down 0.9 %

FSLR traded down $1.92 during trading on Wednesday, hitting $201.00. 2,305,089 shares of the company's stock traded hands, compared to its average volume of 2,515,075. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77. The company's 50 day simple moving average is $201.62 and its two-hundred day simple moving average is $224.75. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $21.52 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.34 and a beta of 1.46.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (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 company had revenue of $887.70 million for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the previous year, the business earned $2.50 EPS. The business's revenue was up 10.7% compared to the same quarter last year. Analysts predict that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of recent analyst reports. Susquehanna decreased their target price on First Solar from $280.00 to $252.00 and set a "positive" rating for the company in a report on Wednesday, October 30th. The Goldman Sachs Group decreased their price objective on shares of First Solar from $311.00 to $279.00 and set a "buy" rating for the company in a report on Wednesday, October 30th. Jefferies Financial Group cut 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. Piper Sandler increased their price target on shares of First Solar from $210.00 to $250.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Finally, William Blair initiated coverage on First Solar in a research report on Thursday, August 29th. They set a "market perform" rating on the stock. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average target price of $280.71.

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.