Retirement Systems of Alabama Sells 13,247 Shares of First Solar, Inc. (FSLR)
Retirement Systems of Alabama cut its holdings in First Solar, Inc. (NASDAQ:FSLR) by 5.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 212,587 shares of the solar cell manufacturer’s stock after selling 13,247 shares during the quarter. Retirement Systems of Alabama owned about 0.20% of First Solar worth $9,753,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of FSLR. BlackRock Inc. increased its stake in 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 purchasing an additional 6,836,843 shares during the period. Schroder Investment Management Group boosted its holdings in shares of First Solar by 12,600.7% in the second quarter. Schroder Investment Management Group now owns 1,679,286 shares of the solar cell manufacturer’s stock valued at $67,306,000 after acquiring an additional 1,666,064 shares in the last quarter. Ecofin Ltd. purchased a new stake in shares of First Solar in the second quarter valued at about $19,485,000. Lord Abbett & CO. LLC purchased a new stake in shares of First Solar in the second quarter valued at about $15,099,000. Finally, Gotham Asset Management LLC purchased a new stake in shares of First Solar in the second quarter valued at about $14,135,000. Institutional investors own 53.55% of the company’s stock.
FSLR has been the topic of several analyst reports. Axiom Securities reaffirmed a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Vetr raised shares of First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 target price on the stock in a report on Wednesday, October 11th. Deutsche Bank AG raised shares of First Solar from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a report on Friday, September 15th. Cowen and Company reaffirmed an “outperform” rating and issued a $57.00 target price (up previously from $52.00) on shares of First Solar in a report on Tuesday, July 25th. Finally, Needham & Company LLC raised shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Friday, October 27th. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. First Solar currently has a consensus rating of “Buy” and a consensus price target of $49.14.
First Solar, Inc. (NASDAQ:FSLR) opened at $60.18 on Friday. First Solar, Inc. has a 52-week low of $25.56 and a 52-week high of $62.57. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market cap of $6,300.00, a P/E ratio of 15.02 and a beta of 1.99.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, topping the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion during the quarter, compared to analyst estimates of $859.22 million. During the same quarter in the prior year, the business posted $1.22 earnings per share. First Solar’s revenue for the quarter was up 59.5% compared to the same quarter last year. equities research analysts expect that First Solar, Inc. will post 2.47 EPS for the current fiscal year.
About First Solar
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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