Trust Co. of Toledo NA OH Increases Stock Position in First Solar, Inc. (NASDAQ:FSLR)

Trust Co. of Toledo NA OH boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 94.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,300 shares of the solar cell manufacturer’s stock after purchasing an additional 1,600 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in First Solar were worth $582,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. AlphaMark Advisors LLC bought a new position in First Solar during the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new position in First Solar during the third quarter valued at approximately $25,000. Kennebec Savings Bank bought a new position in First Solar during the third quarter valued at approximately $29,000. Itau Unibanco Holding S.A. bought a new position in First Solar during the second quarter valued at approximately $38,000. Finally, Larson Financial Group LLC grew its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of First Solar stock opened at $183.61 on Tuesday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $19.66 billion, a P/E ratio of 15.81, a P/E/G ratio of 0.35 and a beta of 1.49. The business has a fifty day simple moving average of $191.07 and a two-hundred day simple moving average of $210.62. First Solar, Inc. has a 12 month low of $135.88 and a 12 month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing the consensus estimate of $3.10 by ($0.19). The firm had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.50 EPS. On average, equities analysts forecast that First Solar, Inc. will post 13.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Truist Financial assumed coverage on shares of First Solar in a research report on Thursday, September 26th. They set a “buy” rating and a $300.00 price target on the stock. Citigroup upgraded shares of First Solar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $200.00 to $254.00 in a report on Tuesday, October 22nd. Mizuho cut their target price on shares of First Solar from $274.00 to $257.00 and set a “neutral” rating on the stock in a report on Thursday, October 31st. Roth Mkm cut their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, Wells Fargo & Company cut their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.75.

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.