Louisiana State Employees Retirement System Cuts Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Louisiana State Employees Retirement System trimmed its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 4.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 19,400 shares of the solar cell manufacturer’s stock after selling 800 shares during the period. Louisiana State Employees Retirement System’s holdings in First Solar were worth $1,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in FSLR. Dimensional Fund Advisors LP lifted its stake in shares of First Solar by 2.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock worth $64,800,000 after buying an additional 42,066 shares in the last quarter. Bank of America Corp DE raised its holdings in shares of First Solar by 1.2% during the fourth quarter. Bank of America Corp DE now owns 186,458 shares of the solar cell manufacturer’s stock valued at $7,916,000 after purchasing an additional 2,214 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of First Solar by 6.2% during the fourth quarter. Thrivent Financial for Lutherans now owns 19,163 shares of the solar cell manufacturer’s stock valued at $814,000 after purchasing an additional 1,121 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of First Solar by 2.8% during the fourth quarter. Legal & General Group Plc now owns 120,673 shares of the solar cell manufacturer’s stock valued at $5,123,000 after purchasing an additional 3,256 shares during the last quarter. Finally, Nordea Investment Management AB raised its holdings in shares of First Solar by 14.2% during the fourth quarter. Nordea Investment Management AB now owns 96,362 shares of the solar cell manufacturer’s stock valued at $4,091,000 after purchasing an additional 12,002 shares during the last quarter. Institutional investors and hedge funds own 62.10% of the company’s stock.

Shares of NASDAQ FSLR opened at $59.26 on Friday. The firm has a fifty day moving average price of $65.25 and a 200-day moving average price of $58.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 4.05 and a quick ratio of 3.35. The stock has a market cap of $6.55 billion, a PE ratio of 43.57, a price-to-earnings-growth ratio of 1.13 and a beta of 1.30. First Solar, Inc. has a 1 year low of $36.51 and a 1 year high of $69.24.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, August 1st. The solar cell manufacturer reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.02 by ($0.20). First Solar had a return on equity of 0.46% and a net margin of 0.95%. The firm had revenue of $585.00 million during the quarter, compared to analysts’ expectations of $656.80 million. During the same period last year, the company earned ($0.46) earnings per share. The business’s revenue for the quarter was up 89.3% on a year-over-year basis. On average, research analysts expect that First Solar, Inc. will post 2.37 EPS for the current year.

In related news, CEO Mark R. Widmar sold 34,964 shares of the company’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $61.43, for a total transaction of $2,147,838.52. Following the completion of the transaction, the chief executive officer now owns 145,285 shares in the company, valued at $8,924,857.55. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $57.85, for a total transaction of $490,336.60. Following the transaction, the insider now owns 97,546 shares of the company’s stock, valued at approximately $5,643,036.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 93,155 shares of company stock valued at $5,765,855. 0.72% of the stock is owned by company insiders.

Several research firms have recently weighed in on FSLR. Roth Capital set a $75.00 price objective on shares of First Solar and gave the company a “buy” rating in a report on Thursday, June 13th. BidaskClub raised shares of First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, June 5th. Argus boosted their price objective on shares of First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. ValuEngine cut shares of First Solar from a “buy” rating to a “hold” rating in a report on Monday. Finally, Barclays reissued a “buy” rating on shares of First Solar in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $70.11.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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

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