Trust Asset Management LLC Invests $202,000 in First Solar, Inc. (NASDAQ:FSLR)

Trust Asset Management LLC acquired a new position in First Solar, Inc. (NASDAQ:FSLR) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,173 shares of the solar cell manufacturer’s stock, valued at approximately $202,000.

Other institutional investors and hedge funds have also modified their holdings of the company. First Pacific Financial acquired a new stake in shares of First Solar in the third quarter worth $27,000. Estabrook Capital Management acquired a new position in First Solar during the 3rd quarter valued at $29,000. Baystate Wealth Management LLC acquired a new position in First Solar during the 4th quarter valued at $29,000. Headinvest LLC acquired a new position in First Solar during the 3rd quarter valued at $30,000. Finally, Rakuten Securities Inc. acquired a new position in First Solar during the 4th quarter valued at $34,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Price Performance

FSLR traded down $2.46 during midday trading on Thursday, hitting $175.02. The company had a trading volume of 1,681,167 shares, compared to its average volume of 2,085,824. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The company has a market capitalization of $18.73 billion, a PE ratio of 22.61, a P/E/G ratio of 0.31 and a beta of 1.41. First Solar, Inc. has a twelve month low of $129.21 and a twelve month high of $232.00. The firm’s 50-day simple moving average is $162.96 and its 200-day simple moving average is $156.96.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company posted ($0.07) EPS. Equities research analysts predict that First Solar, Inc. will post 13.55 EPS for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last quarter. 0.58% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $187.00 to $250.00 in a research note on Friday, April 19th. DZ Bank assumed coverage on shares of First Solar in a research note on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Janney Montgomery Scott assumed coverage on shares of First Solar in a research note on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Finally, Roth Mkm restated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a research note on Thursday, April 18th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $231.36.

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.