Toth Financial Advisory Corp Raises Holdings in First Solar, Inc. (NASDAQ:FSLR)

Toth Financial Advisory Corp lifted its position in shares of First Solar, Inc. (NASDAQ:FSLR) by 9.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,960 shares of the solar cell manufacturer’s stock after buying an additional 330 shares during the quarter. Toth Financial Advisory Corp’s holdings in First Solar were worth $988,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. AlphaMark Advisors LLC purchased a new position in First Solar during the 3rd quarter valued at about $25,000. Atlas Capital Advisors LLC increased its holdings in First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the first quarter worth approximately $25,000. Summit Securities Group LLC purchased a new stake in First Solar during the second quarter worth $36,000. Finally, Itau Unibanco Holding S.A. bought a new stake in First Solar during the 2nd quarter valued at $38,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

Shares of FSLR stock traded down $4.81 during mid-day trading on Monday, hitting $195.74. 1,349,956 shares of the stock were exchanged, compared to its average volume of 2,371,811. First Solar, Inc. has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $20.95 billion, a PE ratio of 21.02, a price-to-earnings-growth ratio of 0.38 and a beta of 1.44. The firm has a fifty day moving average of $226.97 and a 200 day moving average of $222.82.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.85 earnings per share. Research analysts anticipate that First Solar, Inc. will post 13.53 earnings per share for the current year.

Insider Activity at First Solar

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

FSLR has been the subject of a number of analyst reports. Roth Mkm decreased their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating for the company in a research note on Tuesday, October 15th. Piper Sandler increased their price target on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Susquehanna cut their price objective on shares of First Solar from $285.00 to $280.00 and set a “positive” rating on the stock in a research report on Wednesday, October 16th. UBS Group increased their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Bank of America cut their price target on shares of First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a report on Tuesday, October 8th. Three equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $289.96.

First Solar Company 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.