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% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 140,035 shares of the solar cell manufacturer’s stock after acquiring an additional 2,130 shares during the period. First Solar comprises about 1.8% of Avalon Trust Co’s holdings, making the stock its 15th largest holding. Avalon Trust Co owned approximately 0.13% of First Solar worth $24,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of FSLR. Strengthening Families & Communities LLC bought a new position in First Solar during the 3rd quarter valued at approximately $25,000. Larson Financial Group LLC raised its position in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares during the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Crews Bank & Trust bought a new position in First Solar during the 4th quarter valued at approximately $53,000. Finally, Hudson Edge Investment Partners Inc. bought a new position in First Solar during the 4th quarter valued at approximately $53,000. Institutional investors own 92.08% of the company’s stock.

Analyst Ratings Changes

FSLR has been the subject of a number of recent analyst reports. Redburn Atlantic initiated coverage on First Solar in a research report on Monday, March 3rd. They set a “neutral” rating for the company. Barclays decreased their target price on First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research report on Friday, February 28th. Robert W. Baird decreased their target price 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. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Roth Mkm reissued a “buy” rating and issued a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Performance

Shares of FSLR opened at $132.51 on Friday. The business’s fifty day simple moving average is $162.48 and its two-hundred day simple moving average is $191.33. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 12 month low of $124.96 and a 12 month high of $306.77. The company has a market cap of $14.19 billion, a price-to-earnings ratio of 11.41, a P/E/G ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 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. Research analysts anticipate that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now directly owns 4,695 shares in the company, valued at $624,247.20. The trade was a 8.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,739 shares of company stock worth $4,289,403. Insiders own 0.58% of the company’s stock.

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.