Toronto Dominion Bank Sells 24,638 Shares of First Solar, Inc. (NASDAQ:FSLR)

Toronto Dominion Bank lowered its stake in First Solar, Inc. (NASDAQ:FSLR - Free Report) by 41.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 35,445 shares of the solar cell manufacturer's stock after selling 24,638 shares during the quarter. Toronto Dominion Bank's holdings in First Solar were worth $6,247,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after purchasing an additional 120,289 shares during the period. Geode Capital Management LLC boosted its stake in First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares during the period. Wellington Management Group LLP boosted its stake in First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock worth $415,899,000 after purchasing an additional 262,482 shares during the period. Invesco Ltd. boosted its stake in First Solar by 13.9% in the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock worth $323,410,000 after purchasing an additional 223,933 shares during the period. Finally, Amundi boosted its stake in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares during the period. Institutional investors own 92.08% of the company's stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $163.37 on Thursday. The firm has a market cap of $17.52 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. First Solar, Inc. has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The business has a 50 day moving average price of $136.85 and a 200-day moving average price of $162.68.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The company had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the company posted $2.20 EPS. Equities research analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Analysts Set New Price Targets

FSLR has been the subject of several recent analyst reports. StockNews.com lowered First Solar from a "hold" rating to a "sell" rating in a report on Friday, May 2nd. Wells Fargo & Company cut their price objective on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Robert W. Baird cut their price objective on First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Wolfe Research raised First Solar from a "peer perform" rating to an "outperform" rating and set a $221.00 price objective for the company in a report on Tuesday, May 13th. Finally, TD Cowen cut their price objective on First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, First Solar currently has an average rating of "Moderate Buy" and a consensus price target of $226.30.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at $14,589,129.27. This trade represents a 17.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Alexander R. Bradley sold 599 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at $6,114,648.75. The trade was a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last quarter. 0.48% of the stock is owned by company insiders.

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.

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