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 lifted its holdings in First Solar, Inc. (NASDAQ:FSLR) by 60.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,843 shares of the solar cell manufacturer’s stock after buying an additional 46,475 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.11% of First Solar worth $30,643,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. AlphaMark Advisors LLC acquired a new stake in First Solar in the third quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of First Solar in the 3rd quarter valued at approximately $25,000. Kennebec Savings Bank bought a new position in shares of First Solar during the third quarter worth $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Finally, Summit Securities Group LLC bought a new stake in shares of First Solar in the 2nd quarter valued at $36,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Up 1.5 %

NASDAQ:FSLR opened at $202.92 on Wednesday. First Solar, Inc. has a 52 week low of $135.88 and a 52 week high of $306.77. The firm has a 50-day moving average price of $201.62 and a two-hundred day moving average price of $224.75. The firm has a market cap of $21.72 billion, a price-to-earnings ratio of 17.48, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. 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 (NASDAQ:FSLR) last issued its 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). The business had revenue of $887.70 million for the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.50 EPS. On average, equities analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America lowered their price objective on shares of First Solar from $321.00 to $269.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Susquehanna reduced their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Guggenheim lowered their target price on First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, Hsbc Global Res raised First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, First Solar has a consensus rating of “Moderate Buy” and a consensus price target 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.