Kentucky Retirement Systems Has $1.30 Million Holdings in First Solar, Inc. (NASDAQ:FSLR)

Kentucky Retirement Systems lessened its stake in shares of First Solar, Inc. (NASDAQ:FSLR) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,356 shares of the solar cell manufacturer’s stock after selling 101 shares during the period. Kentucky Retirement Systems’ holdings in First Solar were worth $1,296,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Wellington Management Group LLP grew its stake in shares of First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer’s stock valued at $523,166,000 after buying an additional 904,498 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in First Solar by 1,757.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 546,193 shares of the solar cell manufacturer’s stock valued at $136,242,000 after acquiring an additional 516,783 shares during the period. Merewether Investment Management LP grew its position in First Solar by 993.4% in the third quarter. Merewether Investment Management LP now owns 322,936 shares of the solar cell manufacturer’s stock valued at $80,553,000 after acquiring an additional 293,400 shares during the period. Erste Asset Management GmbH bought a new stake in shares of First Solar during the third quarter worth $67,652,000. Finally, Handelsbanken Fonder AB grew its holdings in shares of First Solar by 110.4% during the fourth quarter. Handelsbanken Fonder AB now owns 375,010 shares of the solar cell manufacturer’s stock worth $66,092,000 after purchasing an additional 196,744 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $155.39 on Monday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a 50 day simple moving average of $176.11 and a 200-day simple moving average of $200.26. The company has a market cap of $16.64 billion, a PE ratio of 13.38, a P/E/G ratio of 0.19 and a beta of 1.47. First Solar, Inc. has a 12-month low of $141.70 and a 12-month high of $306.77.

Analyst Upgrades and Downgrades

FSLR has been the topic of several analyst reports. Morgan Stanley cut their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Evercore ISI reduced their price objective on First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 30th. Guggenheim reaffirmed a “buy” rating and set a $335.00 target price on shares of First Solar in a research note on Wednesday, January 22nd. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price on the stock in a report on Tuesday, October 29th. Finally, Susquehanna dropped their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday, October 30th. Two investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $276.38.

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.