Avalon Trust Co Buys 2,130 Shares of First Solar, Inc. (NASDAQ:FSLR)

Avalon Trust Co increased its stake in First Solar, Inc. (NASDAQ:FSLR) by 1.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 140,035 shares of the solar cell manufacturer’s stock after purchasing an additional 2,130 shares during the quarter. First Solar makes up approximately 1.8% of Avalon Trust Co’s investment portfolio, making the stock its 15th biggest position. Avalon Trust Co’s holdings in First Solar were worth $24,680,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Whalen Wealth Management Inc. raised its holdings in First Solar by 47.0% in the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock worth $856,000 after purchasing an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in First Solar by 665.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after acquiring an additional 34,074 shares during the period. Stifel Financial Corp raised its holdings in First Solar by 36.9% during the third quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock valued at $5,350,000 after acquiring an additional 5,780 shares during the period. Paragon Capital Management Inc. bought a new stake in First Solar during the fourth quarter valued at about $1,240,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after acquiring an additional 49,074 shares during the period. 92.08% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have commented on FSLR. Redburn Atlantic began coverage on First Solar in a report on Monday, March 3rd. They set a “neutral” rating on the stock. Royal Bank of Canada decreased their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a report on Thursday, January 2nd. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Robert W. Baird cut their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the sale, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. The trade was a 1.15 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Kuntal Kumar Verma sold 419 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $55,710.24. Following the sale, the insider now directly owns 4,695 shares of the company’s stock, valued at $624,247.20. This represents a 8.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 30,739 shares of company stock worth $4,289,403 over the last 90 days. Company insiders own 0.58% of the company’s stock.

First Solar Stock Down 0.2 %

Shares of NASDAQ:FSLR opened at $132.51 on Friday. First Solar, Inc. has a 1 year low of $124.96 and a 1 year high of $306.77. The business has a 50 day simple moving average of $162.48 and a two-hundred day simple moving average of $191.33. The firm has a market capitalization of $14.19 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. On average, equities analysts predict that First Solar, Inc. will post 13.05 EPS for the current year.

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.