Municipal Employees Retirement System of Michigan raised its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 330.7% during the second quarter, Holdings Channel reports. The firm owned 30,190 shares of the solar cell manufacturer’s stock after buying an additional 23,180 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in First Solar were worth $1,204,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the stock. BlackRock Inc. boosted its stake in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after buying an additional 6,836,843 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock valued at $82,356,000 after buying an additional 679,898 shares during the last quarter. State Treasurer State of Michigan boosted its stake in shares of First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock valued at $30,084,000 after buying an additional 375,500 shares during the last quarter. Principal Financial Group Inc. boosted its stake in shares of First Solar by 171.3% in the first quarter. Principal Financial Group Inc. now owns 314,986 shares of the solar cell manufacturer’s stock valued at $8,536,000 after buying an additional 198,889 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its stake in shares of First Solar by 242.7% in the first quarter. Ameriprise Financial Inc. now owns 255,111 shares of the solar cell manufacturer’s stock valued at $6,914,000 after buying an additional 180,665 shares during the last quarter. 60.75% of the stock is owned by institutional investors.

Shares of First Solar, Inc. (NASDAQ FSLR) opened at 47.43 on Thursday. The stock’s market capitalization is $4.95 billion. First Solar, Inc. has a 12 month low of $25.56 and a 12 month high of $50.21. The company’s 50-day moving average is $43.40 and its 200 day moving average is $35.47.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The firm had revenue of $623 million for the quarter, compared to the consensus estimate of $591.55 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. The company’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities research analysts predict that First Solar, Inc. will post $2.23 earnings per share for the current year.

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Several equities research analysts have weighed in on FSLR shares. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating and dropped their price target for the company from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Roth Capital raised shares of First Solar from a “neutral” rating to a “buy” rating and set a $40.00 price target for the company in a research report on Thursday, April 27th. Credit Suisse Group raised shares of First Solar from an “underperform” rating to a “neutral” rating and increased their price target for the company from $25.00 to $31.00 in a research report on Monday, May 1st. UBS AG raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Finally, Axiom Securities raised shares of First Solar from a “sell” rating to a “hold” rating and dropped their price target for the company from $30.32 to $21.00 in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, nineteen have given a hold rating and nine have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $43.35.

In other news, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $49,400.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now owns 963 shares in the company, valued at approximately $46,859.58. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 95,909 shares of company stock worth $4,705,246. Corporate insiders own 0.40% of the company’s stock.

First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

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Institutional Ownership by Quarter for First Solar (NASDAQ:FSLR)

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