Teacher Retirement System of Texas Sells 2,122 Shares of First Solar, Inc. $FSLR

Teacher Retirement System of Texas reduced its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 13.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,348 shares of the solar cell manufacturer’s stock after selling 2,122 shares during the quarter. Teacher Retirement System of Texas’ holdings in First Solar were worth $2,944,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FSLR. SFE Investment Counsel boosted its position in First Solar by 9.1% in the second quarter. SFE Investment Counsel now owns 69,810 shares of the solar cell manufacturer’s stock valued at $11,556,000 after buying an additional 5,852 shares during the last quarter. Atlantic Union Bankshares Corp acquired a new stake in First Solar during the second quarter valued at $1,323,000. State Street Corp grew its position in shares of First Solar by 2.1% during the 2nd quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock valued at $881,680,000 after acquiring an additional 111,927 shares during the period. Greenup Street Wealth Management LLC purchased a new stake in shares of First Solar in the third quarter valued at approximately $2,147,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock worth $10,471,000 after acquiring an additional 20,884 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on FSLR. Jefferies Financial Group cut shares of First Solar from a “buy” rating to a “hold” rating and reduced their target price for the company from $269.00 to $260.00 in a research report on Wednesday, January 7th. Wells Fargo & Company boosted their price target on shares of First Solar from $270.00 to $285.00 and gave the company an “overweight” rating in a research report on Friday, December 19th. Weiss Ratings reissued a “hold (c+)” rating on shares of First Solar in a research note on Monday, December 29th. The Goldman Sachs Group reissued a “buy” rating and issued a $316.00 price target on shares of First Solar in a research note on Friday, October 31st. Finally, TD Cowen increased their target price on First Solar from $260.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $276.76.

Insider Activity

In related news, insider Georges Antoun sold 37,412 shares of the firm’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total transaction of $9,914,554.12. Following the sale, the insider directly owned 15,424 shares in the company, valued at approximately $4,087,514.24. This trade represents a 70.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul H. Stebbins sold 7,000 shares of First Solar stock in a transaction on Friday, November 7th. The stock was sold at an average price of $262.40, for a total transaction of $1,836,800.00. Following the sale, the director directly owned 15,287 shares in the company, valued at $4,011,308.80. This trade represents a 31.41% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,912 shares of company stock valued at $12,971,349 in the last ninety days. Company insiders own 0.48% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $249.41 on Thursday. First Solar, Inc. has a twelve month low of $116.56 and a twelve month high of $285.99. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $26.76 billion, a P/E ratio of 19.16, a PEG ratio of 0.30 and a beta of 1.60. The business has a 50 day simple moving average of $256.66 and a 200-day simple moving average of $229.06.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 30th. The solar cell manufacturer reported $4.24 earnings per share for the quarter, missing the consensus estimate of $4.32 by ($0.08). First Solar had a net margin of 27.73% and a return on equity of 16.61%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. During the same quarter last year, the business posted $2.91 earnings per share. The company’s revenue for the quarter was up 79.7% compared to the same quarter last year. As a group, equities analysts anticipate that First Solar, Inc. will post 13.05 EPS for the current year.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.