South Dakota Investment Council Takes $10.44 Million Position in First Solar, Inc. (NASDAQ:FSLR)

South Dakota Investment Council bought a new stake in First Solar, Inc. (NASDAQ:FSLR) in the 4th quarter, Holdings Channel.com reports. The fund bought 60,596 shares of the solar cell manufacturer’s stock, valued at approximately $10,439,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FSLR. Baystate Wealth Management LLC acquired a new stake in shares of First Solar during the fourth quarter worth $29,000. First Pacific Financial bought a new position in First Solar during the third quarter worth about $27,000. Estabrook Capital Management bought a new position in First Solar during the third quarter worth about $29,000. Headinvest LLC bought a new position in First Solar during the third quarter worth about $30,000. Finally, Rakuten Securities Inc. bought a new position in First Solar during the fourth quarter worth about $34,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Price Performance

First Solar stock traded down $4.84 during mid-day trading on Wednesday, reaching $175.26. 1,582,343 shares of the company were exchanged, compared to its average volume of 2,083,856. The company has a fifty day simple moving average of $162.27 and a 200-day simple moving average of $156.68. First Solar, Inc. has a 12 month low of $129.21 and a 12 month high of $232.00. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The firm has a market cap of $18.76 billion, a PE ratio of 23.27, a PEG ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter last year, the company earned ($0.07) EPS. The company’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts expect that First Solar, Inc. will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Oppenheimer reiterated an “outperform” rating and set a $269.00 target price on shares of First Solar in a report on Wednesday, April 17th. Janney Montgomery Scott started coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 target price on the stock. Roth Mkm restated a “buy” rating and issued a $230.00 price target on shares of First Solar in a report on Thursday, April 18th. Mizuho boosted their price target on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a report on Wednesday, January 3rd. Finally, Susquehanna restated a “positive” rating and issued a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Three investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $231.36.

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.