Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus rating of “Hold” by the twenty-eight ratings firms that are presently covering the stock. Four research analysts have rated the stock with a sell recommendation, seventeen have assigned a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $42.66.
A number of research analysts recently issued reports on FSLR shares. Roth Capital restated a “neutral” rating and set a $27.00 price objective on shares of First Solar in a report on Tuesday, December 6th. Robert W. Baird restated an “outperform” rating and set a $40.00 price objective (up previously from $33.00) on shares of First Solar in a report on Friday, December 23rd. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, January 17th. Vetr cut shares of First Solar from a “strong-buy” rating to a “buy” rating and set a $38.00 price objective for the company. in a report on Thursday, February 16th. Finally, Credit Suisse Group AG cut shares of First Solar from a “neutral” rating to an “underperform” rating and set a $29.00 price objective for the company. in a report on Wednesday, February 22nd.
In other First Solar news, CFO Alexander R. Bradley sold 905 shares of the company’s stock in a transaction on Thursday, March 9th. The shares were sold at an average price of $32.56, for a total transaction of $29,466.80. Following the sale, the chief financial officer now directly owns 571 shares of the company’s stock, valued at $18,591.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Paul J. Kaleta sold 8,492 shares of the company’s stock in a transaction on Thursday, February 23rd. The stock was sold at an average price of $33.69, for a total transaction of $286,095.48. Following the sale, the executive vice president now directly owns 23,696 shares in the company, valued at $798,318.24. The disclosure for this sale can be found here. Insiders have sold 11,103 shares of company stock worth $370,257 over the last ninety days. Insiders own 0.40% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Cornerstone Advisors Inc. raised its stake in First Solar by 2,220.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,994 shares of the solar cell manufacturer’s stock valued at $118,000 after buying an additional 2,865 shares during the period. LS Investment Advisors LLC raised its stake in First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock valued at $134,000 after buying an additional 605 shares during the period. Virtus Investment Advisers Inc. purchased a new stake in First Solar during the third quarter valued at about $139,000. Menora Mivtachim Holdings LTD. purchased a new stake in First Solar during the fourth quarter valued at about $122,000. Finally, SRB Corp raised its stake in First Solar by 48.0% in the third quarter. SRB Corp now owns 4,236 shares of the solar cell manufacturer’s stock valued at $167,000 after buying an additional 1,374 shares during the period. 58.02% of the stock is currently owned by hedge funds and other institutional investors.
First Solar (NASDAQ:FSLR) opened at 28.31 on Tuesday. The company’s market cap is $2.95 billion. First Solar has a 12-month low of $28.05 and a 12-month high of $70.29. The stock’s 50 day moving average is $33.13 and its 200-day moving average is $34.58.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 21st. The solar cell manufacturer reported $1.24 EPS for the quarter, topping the consensus estimate of $0.97 by $0.27. First Solar had a net margin of 14.72% and a return on equity of 9.58%. The company earned $480.43 million during the quarter, compared to analysts’ expectations of $412.76 million. During the same quarter in the previous year, the company earned $1.60 EPS. First Solar’s revenue was down 49.0% on a year-over-year basis. Analysts predict that First Solar will post $0.35 earnings per share for the current fiscal year.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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