First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Zacks Research

First Solar (NASDAQ:FSLR) was upgraded by equities researchers at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Monday,Zacks.com reports.

FSLR has been the subject of a number of other reports. Wall Street Zen downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Raymond James Financial started coverage on shares of First Solar in a report on Monday, January 12th. They set a “market perform” rating for the company. Evercore dropped their price target on First Solar from $241.00 to $212.00 in a report on Thursday, March 5th. UBS Group cut their price target on shares of First Solar from $330.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, Argus reduced their target price on First Solar from $300.00 to $250.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Nineteen research analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $243.49.

First Solar Price Performance

NASDAQ FSLR opened at $195.86 on Monday. The company has a 50-day moving average price of $200.05 and a two-hundred day moving average price of $232.26. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of 13.78, a price-to-earnings-growth ratio of 0.45 and a beta of 1.61. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. First Solar has a 52 week low of $119.09 and a 52 week high of $285.99.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The business had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. First Solar had a return on equity of 17.32% and a net margin of 29.28%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $3.65 earnings per share. Analysts forecast that First Solar will post 17.37 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CTO Markus Gloeckler sold 3,640 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $196.95, for a total transaction of $716,898.00. Following the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at $1,582,887.15. This represents a 31.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 7,738 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $1,516,106.34. Following the completion of the sale, the chief executive officer directly owned 91,787 shares of the company’s stock, valued at $17,983,826.91. This represents a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 76,562 shares of company stock worth $15,042,232 over the last quarter. 0.39% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

Hedge funds have recently modified their holdings of the company. Linden Thomas Advisory Services LLC raised its stake in shares of First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after purchasing an additional 39 shares in the last quarter. Apollon Wealth Management LLC raised its stake in shares of First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after buying an additional 44 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of First Solar by 18.2% during the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after acquiring an additional 45 shares during the period. FIL Ltd boosted its position in shares of First Solar by 6.9% during the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after acquiring an additional 46 shares in the last quarter. Finally, Signaturefd LLC increased its stake in First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after acquiring an additional 47 shares during the period. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin?film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility?scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.