First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

by · The Cerbat Gem

Shares of First Solar, Inc. (NASDAQ:FSLR – Get Free Report) have been assigned an average rating of “Moderate Buy” from the twenty-five research firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and twenty-three have issued a buy recommendation on the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $238.16.

FSLR has been the topic of a number of analyst reports. The Goldman Sachs Group lifted their target price on shares of First Solar from $265.00 to $268.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Susquehanna reiterated a “positive” rating and set a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Bank of America boosted their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Barclays increased their price objective on shares of First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a report on Friday, April 19th. Finally, Evercore ISI raised shares of First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 target price on the stock in a report on Tuesday, April 23rd.

Read Our Latest Research Report on First Solar

First Solar Stock Down 1.3 %

NASDAQ FSLR opened at $191.05 on Wednesday. The stock’s 50-day moving average price is $170.84 and its 200-day moving average price is $159.74. The company has a market capitalization of $20.45 billion, a P/E ratio of 20.03, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR – Get Free Report) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm’s revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. On average, equities research analysts predict that First Solar will post 13.56 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction 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 transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director R Craig Kennedy sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $196.73, for a total transaction of $393,460.00. Following the completion of the sale, the director now directly owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders sold a total of 28,620 shares of company stock worth $4,663,000 over the last three months. 0.58% of the stock is owned by insiders.

Institutional Trading of First Solar

Large investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Solar by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after buying an additional 20,946 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of First Solar by 504.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares during the period. Sora Investors LLC grew its stake in First Solar by 63.6% in the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after purchasing an additional 35,000 shares in the last quarter. Vanguard Group Inc. grew its stake in First Solar by 2.4% in the third quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after purchasing an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC increased its holdings in First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after purchasing an additional 155,342 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

About First Solar

(Get Free Report

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.

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