Municipal Employees Retirement System of Michigan Has $202,000 Position in First Solar, Inc. (FSLR)

Municipal Employees Retirement System of Michigan Has $202,000 Position in First Solar, Inc. (FSLR)

Municipal Employees Retirement System of Michigan maintained its stake in First Solar, Inc. (NASDAQ:FSLR) during the third quarter, Holdings Channel reports. The institutional investor owned 5,110 shares of the solar cell manufacturer’s stock at the end of the third quarter. Municipal Employees Retirement System of Michigan’s holdings in First Solar were worth $202,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FSLR. LS Investment Advisors LLC increased its position in First Solar by 27.2% in the second quarter. LS Investment Advisors LLC now owns 2,782 shares of the solar cell manufacturer’s stock worth $135,000 after buying an additional 595 shares during the last quarter. New York State Teachers Retirement System increased its position in First Solar by 4.7% in the second quarter. New York State Teachers Retirement System now owns 126,808 shares of the solar cell manufacturer’s stock worth $6,148,000 after buying an additional 5,733 shares during the last quarter. Bank of Montreal Can bought a new position in First Solar during the second quarter worth about $13,025,000. Capital Fund Management S.A. increased its position in First Solar by 7.8% in the second quarter. Capital Fund Management S.A. now owns 28,140 shares of the solar cell manufacturer’s stock worth $1,364,000 after buying an additional 2,027 shares during the last quarter. Finally, Cambiar Investors LLC increased its position in First Solar by 34.8% in the second quarter. Cambiar Investors LLC now owns 70,247 shares of the solar cell manufacturer’s stock worth $3,406,000 after buying an additional 18,131 shares during the last quarter. 58.52% of the stock is currently owned by institutional investors.

Shares of First Solar, Inc. (NASDAQ:FSLR) traded down 2.48% on Friday, hitting $31.48. 2,380,412 shares of the stock traded hands. First Solar, Inc. has a 52-week low of $28.60 and a 52-week high of $74.29. The firm has a 50 day moving average price of $33.62 and a 200 day moving average price of $37.33. The firm has a market cap of $3.27 billion, a PE ratio of 6.43 and a beta of 2.04.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, November 2nd. The solar cell manufacturer reported $1.22 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.74 by $0.48. The company earned $688 million during the quarter, compared to the consensus estimate of $980.48 million. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The firm’s revenue was down 45.9% on a year-over-year basis. During the same period in the previous year, the company posted $3.41 EPS. On average, equities analysts forecast that First Solar, Inc. will post $4.70 EPS for the current year.

A number of research firms recently issued reports on FSLR. Guggenheim set a $45.00 target price on shares of First Solar and gave the company a “buy” rating in a research report on Saturday, November 19th. Credit Suisse Group reiterated a “neutral” rating and set a $30.00 target price (down previously from $50.00) on shares of First Solar in a research report on Thursday, December 29th. Deutsche Bank AG set a $44.00 target price on shares of First Solar and gave the company a “hold” rating in a research report on Friday, October 21st. Vetr downgraded shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $35.90 target price on the stock. in a research report on Wednesday, January 4th. Finally, Roth Capital restated a “neutral” rating and set a $27.00 price objective on shares of First Solar in a report on Tuesday, December 6th. Three investment analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $45.79.

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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.

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