First Solar Inc. (NASDAQ:FSLR) has earned a consensus rating of “Hold” from the twenty-eight brokerages that are currently covering the company. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $56.40.
FSLR has been the topic of a number of research reports. Mizuho reduced their target price on shares of First Solar from $67.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Goldman Sachs Group Inc. lowered shares of First Solar from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $58.00 to $42.00 in a report on Thursday. Vetr upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $50.01 target price on the stock in a report on Tuesday, July 26th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $53.00 target price (down from $65.00) on shares of First Solar in a report on Wednesday, September 28th. Finally, Williams Capital initiated coverage on shares of First Solar in a report on Friday, September 30th. They set a “buy” rating and a $50.00 target price on the stock.
In other First Solar news, insider Georges Antoun sold 133,761 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.54, for a total transaction of $5,957,714.94. Following the completion of the transaction, the insider now directly owns 151,471 shares in the company, valued at approximately $6,746,518.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Philip Dejong sold 67,251 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the transaction, the chief operating officer now owns 45,499 shares of the company’s stock, valued at $2,014,695.72. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. BOKF NA increased its position in First Solar by 3.8% in the second quarter. BOKF NA now owns 2,202 shares of the solar cell manufacturer’s stock valued at $106,000 after buying an additional 81 shares during the period. LS Investment Advisors LLC increased its position in First Solar by 27.2% in the second quarter. LS Investment Advisors LLC now owns 2,782 shares of the solar cell manufacturer’s stock valued at $135,000 after buying an additional 595 shares during the period. Signature Estate & Investment Advisors LLC acquired a new position in First Solar during the second quarter valued at $141,000. Pacad Investment Ltd. acquired a new position in First Solar during the second quarter valued at $141,000. Finally, Northwestern Mutual Investment Management Company LLC increased its position in First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock valued at $142,000 after buying an additional 11 shares during the period. Hedge funds and other institutional investors own 57.50% of the company’s stock.
Shares of First Solar (NASDAQ:FSLR) opened at 37.58 on Friday. The stock’s 50 day moving average is $37.43 and its 200 day moving average is $48.12. First Solar has a 1-year low of $33.74 and a 1-year high of $74.29. The firm has a market capitalization of $3.85 billion, a P/E ratio of 5.53 and a beta of 1.54.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.55 by $0.32. First Solar had a net margin of 17.45% and a return on equity of 13.78%. The firm had revenue of $934.40 million for the quarter, compared to analyst estimates of $862.68 million. During the same period in the prior year, the business posted $0.93 EPS. The business’s revenue for the quarter was up 4.2% compared to the same quarter last year. Equities analysts predict that First Solar will post $4.25 earnings per share for the current year.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.