Vetr lowered shares of First Solar Inc. (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a report released on Thursday morning. Vetr currently has $43.85 price objective on the solar cell manufacturer’s stock.
FSLR has been the topic of several other research reports. Standpoint Research reissued a buy rating and issued a $54.00 price target on shares of First Solar in a report on Tuesday, September 6th. Janney Montgomery Scott reaffirmed a buy rating and set a $68.00 target price (down previously from $89.00) on shares of First Solar in a research note on Friday, August 5th. Oppenheimer Holdings Inc. reaffirmed an outperform rating and set a $56.00 target price on shares of First Solar in a research note on Friday, August 5th. Barclays PLC downgraded First Solar from an overweight rating to a neutral rating in a research note on Thursday, August 25th. Finally, JMP Securities began coverage on First Solar in a research note on Thursday, September 8th. They set an underperform rating and a $32.00 target price on the stock. One analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus target price of $56.32.
Shares of First Solar (NASDAQ:FSLR) opened at 38.28 on Thursday. The firm has a market cap of $3.92 billion, a price-to-earnings ratio of 5.64 and a beta of 1.54. First Solar has a 1-year low of $33.74 and a 1-year high of $74.29. The company’s 50 day moving average price is $37.47 and its 200-day moving average price is $47.53.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.32. The business had revenue of $934.40 million for the quarter, compared to the consensus estimate of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The business’s revenue was up 4.2% on a year-over-year basis. During the same quarter last year, the business posted $0.93 EPS. Equities analysts expect that First Solar will post $4.25 EPS for the current fiscal year.
In related news, insider Georges Antoun sold 133,761 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was 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 owns 151,471 shares of the company’s stock, valued at approximately $6,746,518.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Christopher Bueter sold 29,384 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.23, for a total value of $1,299,654.32. Following the transaction, the executive vice president now directly owns 17,718 shares of the company’s stock, valued at approximately $783,667.14. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of FSLR. BOKF NA boosted 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 in the last quarter. LS Investment Advisors LLC boosted 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 in the last quarter. 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 raised its position in shares of 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 in the last quarter. 57.51% of the stock is owned by institutional investors and hedge funds.
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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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