Arizona State Retirement System Increases Position in First Solar, Inc. (NASDAQ:FSLR)

Arizona State Retirement System increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,512 shares of the solar cell manufacturer’s stock after purchasing an additional 377 shares during the period. Arizona State Retirement System’s holdings in First Solar were worth $5,201,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. State Street Corp lifted its stake in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock valued at $1,236,383,000 after buying an additional 108,984 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of First Solar by 0.9% during the third quarter. Geode Capital Management LLC now owns 2,602,503 shares of the solar cell manufacturer’s stock valued at $647,440,000 after acquiring an additional 24,143 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% during the third quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after acquiring an additional 904,498 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of First Solar by 0.9% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 1,743,813 shares of the solar cell manufacturer’s stock worth $434,977,000 after acquiring an additional 15,890 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of First Solar by 7.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,330,675 shares of the solar cell manufacturer’s stock valued at $331,924,000 after buying an additional 90,249 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This trade represents a 67.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now directly owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is currently owned by insiders.

First Solar Price Performance

FSLR opened at $139.13 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market capitalization of $14.90 billion, a price-to-earnings ratio of 11.98, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The firm’s fifty day moving average price is $167.08 and its two-hundred day moving average price is $194.60.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Bank of America reduced their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Seaport Res Ptn upgraded First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Finally, Guggenheim decreased their target price on First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $262.08.

About First Solar

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.