Teachers Retirement System of The State of Kentucky Purchases 46,475 Shares of First Solar, Inc. (NASDAQ:FSLR)

Teachers Retirement System of The State of Kentucky increased its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 60.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 122,843 shares of the solar cell manufacturer’s stock after acquiring an additional 46,475 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in First Solar were worth $30,643,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of FSLR. Sequoia Financial Advisors LLC boosted its stake in shares of First Solar by 11.4% during the second quarter. Sequoia Financial Advisors LLC now owns 1,501 shares of the solar cell manufacturer’s stock valued at $338,000 after purchasing an additional 154 shares during the period. V Square Quantitative Management LLC boosted its position in First Solar by 13.7% in the second quarter. V Square Quantitative Management LLC now owns 2,286 shares of the solar cell manufacturer’s stock valued at $515,000 after buying an additional 276 shares during the last quarter. ORG Partners LLC purchased a new stake in First Solar in the second quarter valued at $71,000. Cigna Investments Inc. New acquired a new stake in shares of First Solar during the 2nd quarter valued at about $251,000. Finally, J.Safra Asset Management Corp purchased a new stake in First Solar during the 2nd quarter worth approximately $58,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FSLR shares. Truist Financial started coverage on shares of First Solar in a report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Morgan Stanley lowered their price target on First Solar from $329.00 to $297.00 and set an “overweight” rating for the company in a research report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. William Blair started coverage on First Solar in a report on Thursday, August 29th. They set a “market perform” rating for the company. Finally, Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $280.71.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $202.92 on Wednesday. The company has a market cap of $21.72 billion, a P/E ratio of 17.48, a price-to-earnings-growth ratio of 0.34 and a beta of 1.46. The company’s fifty day moving average is $201.62 and its two-hundred day moving average is $224.75. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12-month low of $135.88 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The firm had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.50 earnings per share. Equities analysts expect that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

First Solar 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.