CENTRAL TRUST Co Sells 165 Shares of First Solar, Inc. (NASDAQ:FSLR)

CENTRAL TRUST Co trimmed its position in First Solar, Inc. (NASDAQ:FSLR – Get Rating) by 1.4% in the third quarter, according to its most recent filing with the SEC. The fund owned 11,478 shares of the solar cell manufacturer’s stock after selling 165 shares during the period. CENTRAL TRUST Co’s holdings in First Solar were worth $1,518,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of FSLR. Goldman Sachs Group Inc. lifted its stake in shares of First Solar by 197.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock valued at $111,880,000 after acquiring an additional 887,443 shares during the last quarter. Fred Alger Management LLC bought a new position in First Solar during the 3rd quarter worth $100,007,000. Renaissance Technologies LLC raised its position in First Solar by 74.4% during the 1st quarter. Renaissance Technologies LLC now owns 931,000 shares of the solar cell manufacturer’s stock worth $77,962,000 after purchasing an additional 397,100 shares during the last quarter. Encompass Capital Advisors LLC bought a new position in First Solar during the 3rd quarter worth $43,765,000. Finally, Marshall Wace LLP bought a new position in First Solar during the 3rd quarter worth $42,687,000. 80.97% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $203.22 on Thursday. First Solar, Inc. has a twelve month low of $59.60 and a twelve month high of $218.25. The stock’s 50 day moving average price is $176.04 and its 200-day moving average price is $155.29. The company has a market capitalization of $21.67 billion, a PE ratio of -484.32 and a beta of 1.36. The company has a quick ratio of 3.05, a current ratio of 3.65 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLR – Get Rating) last announced its earnings results on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.11. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. First Solar had a negative return on equity of 0.75% and a negative net margin of 1.69%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.23 EPS. On average, equities analysts anticipate that First Solar, Inc. will post 7.17 EPS for the current year.

Insider Buying and Selling

In related news, Director Richard D. Chapman sold 7,500 shares of First Solar stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $211.00, for a total value of $1,582,500.00. Following the sale, the director now owns 21,689 shares of the company’s stock, valued at approximately $4,576,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Richard D. Chapman sold 7,500 shares of First Solar stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $211.00, for a total value of $1,582,500.00. Following the sale, the director now owns 21,689 shares of the company’s stock, valued at approximately $4,576,379. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Byron Michael Jeffers sold 1,281 shares of the business’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $212.50, for a total transaction of $272,212.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,909 shares of company stock valued at $7,870,618. 0.54% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

FSLR has been the subject of several analyst reports. UBS Group raised First Solar from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $250.00 in a research report on Friday, March 3rd. Daiwa Capital Markets assumed coverage on First Solar in a research report on Friday, December 23rd. They issued an “outperform” rating and a $175.00 price objective for the company. KeyCorp lifted their price objective on First Solar from $201.00 to $227.00 and gave the stock an “overweight” rating in a research report on Monday, March 6th. Susquehanna lifted their price objective on First Solar from $175.00 to $225.00 and gave the stock a “positive” rating in a research report on Wednesday, January 18th. Finally, Argus lifted their price objective on First Solar from $176.00 to $261.00 in a research report on Tuesday. Eight analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $201.00.

First Solar Profile

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First Solar, Inc engages in designing, manufacturing, marketing, and the distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.