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% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund 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 SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Smartleaf Asset Management LLC grew its holdings in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after buying an additional 63 shares in the last quarter. Crews Bank & Trust acquired a new position in First Solar during the fourth quarter worth about $53,000. Hudson Edge Investment Partners Inc. bought a new position in First Solar in the 4th quarter valued at approximately $53,000. Banque Transatlantique SA bought a new position in shares of First Solar in the 4th quarter valued at $53,000. Finally, CoreFirst Bank & Trust acquired a new stake in shares of First Solar during the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

FSLR traded up $9.72 during midday trading on Tuesday, reaching $159.37. The company had a trading volume of 4,473,397 shares, compared to its average volume of 3,059,811. The business has a 50-day moving average of $141.79 and a two-hundred day moving average of $160.01. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar, Inc. has a 1 year low of $116.56 and a 1 year high of $306.77. The company has a market cap of $17.09 billion, a P/E ratio of 13.73, a P/E/G ratio of 0.19 and a beta of 1.46.

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

Analysts Set New Price Targets

Several brokerages recently commented on FSLR. Morgan Stanley set a $223.00 target price on First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target for the company. in a research note on Wednesday, April 30th. TD Cowen dropped their price target on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research report on Wednesday, April 30th. Royal Bank of Canada reduced their price objective on First Solar from $237.00 to $214.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Finally, Wall Street Zen downgraded First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $227.94.

Insider Activity

In related news, insider Georges Antoun sold 229 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. The trade was a 0.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,272 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total transaction of $169,125.12. Following the sale, the chief executive officer now directly owns 109,000 shares of the company's stock, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,802 shares of company stock worth $2,655,403 in the last three months. Company insiders own 0.48% 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.