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

Avalon Trust Co lifted its holdings in shares of First Solar, Inc. (NASDAQ:FSLR - Free Report) by 11.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 81,276 shares of the solar cell manufacturer's stock after acquiring an additional 8,490 shares during the quarter. First Solar accounts for about 1.3% of Avalon Trust Co's holdings, making the stock its 27th largest position. Avalon Trust Co owned about 0.08% of First Solar worth $14,002,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of FSLR. AtonRa Partners boosted its stake in First Solar by 2.2% in the fourth quarter. AtonRa Partners now owns 3,600 shares of the solar cell manufacturer's stock valued at $620,000 after acquiring an additional 79 shares during the last quarter. Advisors Asset Management Inc. increased its position in First Solar by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer's stock worth $3,011,000 after buying an additional 85 shares during the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in shares of First Solar by 14.2% in the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 691 shares of the solar cell manufacturer's stock valued at $119,000 after buying an additional 86 shares during the period. Blue Trust Inc. lifted its position in shares of First Solar by 24.3% during the 4th quarter. Blue Trust Inc. now owns 445 shares of the solar cell manufacturer's stock valued at $71,000 after buying an additional 87 shares during the last quarter. Finally, Guinness Atkinson Asset Management Inc grew its stake in shares of First Solar by 1.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 7,409 shares of the solar cell manufacturer's stock worth $1,197,000 after acquiring an additional 90 shares during the period. 92.08% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, insider Georges Antoun sold 2,400 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Georges Antoun sold 2,400 shares of First Solar 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 in the company, valued at $6,584,512. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 in the last ninety days. 0.58% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have commented on FSLR. The Goldman Sachs Group upped their price objective on shares of First Solar from $265.00 to $268.00 and gave the company a "buy" rating in a report on Thursday. Oppenheimer raised their price objective on shares of First Solar from $269.00 to $271.00 and gave the stock an "outperform" rating in a report on Thursday. Barclays increased their target price on First Solar from $224.00 to $227.00 and gave the stock an "overweight" rating in a research report on Friday, April 19th. Wells Fargo & Company upgraded First Solar from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Finally, JPMorgan Chase & Co. increased their price objective on First Solar from $237.00 to $240.00 and gave the stock an "overweight" rating in a report on Thursday. Three research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $238.16.

First Solar Price Performance

Shares of FSLR stock traded up $11.04 during trading hours on Friday, hitting $191.55. 3,008,268 shares of the company's stock were exchanged, compared to its average volume of 2,074,836. First Solar, Inc. has a 12-month low of $129.21 and a 12-month high of $232.00. The company has a market capitalization of $20.50 billion, a PE ratio of 20.08, a PEG ratio of 0.31 and a beta of 1.37. The business's 50 day simple moving average is $166.57 and its 200-day simple moving average is $158.28. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm's revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. On average, equities research analysts anticipate that First Solar, Inc. will post 13.55 earnings per share for the current 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.