TD Asset Management Inc Sells 5,615 Shares of First Solar, Inc. $FSLR

TD Asset Management Inc reduced its stake in First Solar, Inc. (NASDAQ:FSLR) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,929 shares of the solar cell manufacturer’s stock after selling 5,615 shares during the period. TD Asset Management Inc owned 0.07% of First Solar worth $19,051,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Linden Thomas Advisory Services LLC increased its position in shares of First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock worth $504,000 after acquiring an additional 39 shares in the last quarter. Apollon Wealth Management LLC increased its position in shares of First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock worth $942,000 after acquiring an additional 44 shares in the last quarter. Root Financial Partners LLC increased its position in shares of First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after acquiring an additional 45 shares in the last quarter. Fielder Capital Group LLC increased its position in shares of First Solar by 4.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after acquiring an additional 47 shares in the last quarter. Finally, Burford Brothers Inc. increased its position in shares of First Solar by 0.3% during the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after acquiring an additional 48 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

First Solar Price Performance

First Solar stock opened at $279.01 on Monday. First Solar, Inc. has a fifty-two week low of $135.50 and a fifty-two week high of $320.95. The stock has a market cap of $29.98 billion, a PE ratio of 18.02, a price-to-earnings-growth ratio of 0.62 and a beta of 1.70. The firm’s 50-day simple moving average is $224.60 and its 200 day simple moving average is $233.01. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.03 billion. During the same period in the previous year, the company earned $1.95 earnings per share. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. Research analysts predict that First Solar, Inc. will post 17.61 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FSLR shares. Jefferies Financial Group decreased their target price on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research report on Tuesday, April 7th. Citigroup decreased their target price on shares of First Solar from $300.00 to $243.00 and set a “buy” rating for the company in a research report on Tuesday, April 21st. Freedom Capital upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 5th. Weiss Ratings upgraded shares of First Solar from a “hold (c)” rating to a “hold (c+)” rating in a report on Tuesday, May 26th. Finally, Glj Research cut shares of First Solar from a “buy” rating to a “hold” rating and cut their price target for the stock from $314.43 to $207.82 in a report on Wednesday, March 4th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $247.40.

Insider Buying and Selling at First Solar

In related news, CFO Alexander R. Bradley sold 14,106 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares in the company, valued at approximately $5,999,100. The trade was a 31.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 582 shares of the business’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the transaction, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 61,426 shares of company stock valued at $13,802,836 in the last quarter. 0.39% of the stock is owned by company insiders.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.