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 shares of First Solar, Inc. (NASDAQ:FSLR) by 13.8% in the 2nd quarter, Holdings Channel reports. 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 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in FSLR. Norges Bank bought a new position in shares of First Solar during the 4th quarter worth $298,123,000. Schroder Investment Management Group grew its stake in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after acquiring an additional 351,540 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in shares of First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares during the period. Bank Julius Baer & Co. Ltd Zurich grew its stake in shares of First Solar by 2,009.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 180,681 shares of the solar cell manufacturer’s stock worth $31,128,000 after acquiring an additional 172,117 shares during the period. Finally, Bull Oak Capital LLC grew its stake in shares of First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after acquiring an additional 155,342 shares during the period. Institutional investors own 92.08% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FSLR. Susquehanna increased their price objective on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. Deutsche Bank Aktiengesellschaft increased their price objective on First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Piper Sandler increased their price objective on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a report on Monday, July 22nd. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 price objective on the stock in a report on Thursday, August 1st. Finally, UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.58.

Insider Activity

In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the transaction, the director now owns 1,045 shares in the company, valued at $199,051.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,153 shares of company stock worth $12,146,968. 0.58% of the stock is currently owned by insiders.

First Solar Price Performance

Shares of First Solar stock traded up $3.36 during trading on Tuesday, hitting $210.45. 1,785,526 shares of the stock traded hands, compared to its average volume of 2,540,636. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The stock has a market cap of $22.53 billion, a price-to-earnings ratio of 22.06, a PEG ratio of 0.37 and a beta of 1.44. The firm’s fifty day moving average is $242.28 and its 200-day moving average is $196.10. First Solar, Inc. has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.85 EPS. Research analysts expect that First Solar, Inc. will post 13.53 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.