Avalon Trust Co Purchases 8,490 Shares of First Solar, Inc. (NASDAQ:FSLR)

Avalon Trust Co boosted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR) by 11.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 81,276 shares of the solar cell manufacturer’s stock after purchasing an additional 8,490 shares during the period. First Solar comprises approximately 1.3% of Avalon Trust Co’s investment portfolio, making the stock its 27th biggest position. Avalon Trust Co owned 0.08% of First Solar worth $14,002,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Estabrook Capital Management bought a new stake in shares of First Solar during the 3rd quarter worth $29,000. Baystate Wealth Management LLC acquired a new position in First Solar during the fourth quarter worth about $29,000. Headinvest LLC bought a new position in shares of First Solar in the third quarter worth about $30,000. Rakuten Securities Inc. bought a new stake in shares of First Solar during the 4th quarter valued at approximately $34,000. Finally, USCF Advisers LLC increased its position in First Solar by 100.0% during the 4th quarter. USCF Advisers LLC now owns 200 shares of the solar cell manufacturer’s stock worth $34,000 after purchasing an additional 100 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Morgan Stanley raised their target price on shares of First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a research report on Thursday. Evercore ISI upgraded First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price objective on the stock in a research report on Tuesday, April 23rd. JPMorgan Chase & Co. lifted their price target on First Solar from $237.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday. Susquehanna reaffirmed a “positive” rating and issued a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Finally, UBS Group raised their price objective on shares of First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $238.16.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kuntal Kumar Verma sold 787 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $125,920.00. Following the transaction, the insider now owns 4,920 shares of the company’s stock, valued at approximately $787,200. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

First Solar Trading Up 6.1 %

Shares of First Solar stock traded up $11.04 on Friday, reaching $191.55. 3,008,268 shares of the company’s stock were exchanged, compared to its average volume of 2,074,836. The firm’s 50-day moving average is $166.57 and its two-hundred day moving average is $158.28. The company has a market capitalization of $20.50 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.31 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business’s quarterly revenue was up 44.8% on a year-over-year basis. During the same period last year, the company posted $0.40 earnings per share. Sell-side analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

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.