Private Trust Co. NA Buys 1,156 Shares of First Solar, Inc. (NASDAQ:FSLR)

Private Trust Co. NA boosted its stake in First Solar, Inc. (NASDAQ:FSLR) by 3,853.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,186 shares of the solar cell manufacturer’s stock after purchasing an additional 1,156 shares during the quarter. Private Trust Co. NA’s holdings in First Solar were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC bought a new stake in First Solar during the third quarter worth about $25,000. Kennebec Savings Bank purchased a new position in shares of First Solar in the 3rd quarter worth about $29,000. Atlas Capital Advisors LLC increased its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at about $36,000. 92.08% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Susquehanna cut their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. William Blair assumed coverage on shares of First Solar in a research note on Thursday, August 29th. They issued a “market perform” rating for the company. Janney Montgomery Scott raised First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective on the stock in a research note on Tuesday, October 29th. Finally, Wells Fargo & Company decreased their price objective on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $279.04.

First Solar Price Performance

Shares of FSLR stock opened at $192.57 on Friday. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock has a market cap of $20.62 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 0.34 and a beta of 1.48. The business’s fifty day moving average is $209.90 and its 200 day moving average is $225.58. First Solar, Inc. has a twelve month low of $135.88 and a twelve month high of $306.77.

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

First Solar 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.