Trust Co. of Toledo NA OH Sells 229 Shares of First Solar, Inc. (NASDAQ:FSLR)

Trust Co. of Toledo NA OH decreased its position in First Solar, Inc. (NASDAQ:FSLR) by 13.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,425 shares of the solar cell manufacturer’s stock after selling 229 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in First Solar were worth $321,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar during the 1st quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar during the 4th quarter worth about $27,000. Baystate Wealth Management LLC bought a new stake in First Solar during the 4th quarter worth about $29,000. Riverview Trust Co bought a new stake in First Solar during the 1st quarter worth about $32,000. Finally, Rakuten Securities Inc. bought a new stake in First Solar during the 4th quarter worth about $34,000. Institutional investors own 92.08% of the company’s stock.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction that occurred on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at $922,740. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The disclosure for this sale can be found here. In the last three months, insiders sold 49,153 shares of company stock valued at $12,146,968. 0.58% of the stock is owned by corporate insiders.

First Solar Stock Up 1.6 %

NASDAQ FSLR traded up $3.36 during trading hours on Tuesday, reaching $210.45. 1,785,526 shares of the company’s stock were exchanged, compared to its average volume of 2,540,636. The company’s 50-day moving average is $242.28 and its two-hundred day moving average is $196.10. First Solar, Inc. has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23. The company has a market capitalization of $22.53 billion, a price-to-earnings ratio of 22.06, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the prior year, the business earned $1.85 EPS. First Solar’s revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts forecast that First Solar, Inc. will post 13.53 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on FSLR shares. Mizuho reissued a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a report on Tuesday, April 23rd. Royal Bank of Canada restated an “outperform” rating and set a $315.00 target price on shares of First Solar in a research report on Wednesday, July 31st. Finally, DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.58.

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.