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

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned an average rating of “Moderate Buy” from the thirty-three ratings firms that are covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $249.7793.

FSLR has been the topic of a number of recent research reports. Sanford C. Bernstein reissued an “underperform” rating on shares of First Solar in a research note on Friday. HSBC raised their price objective on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research report on Tuesday, May 5th. Freedom Capital upgraded First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Argus raised their price objective on First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Finally, Guggenheim raised their price objective on First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st.

First Solar Stock Performance

Shares of FSLR stock opened at $239.07 on Monday. The business’s 50-day moving average price is $243.56 and its 200-day moving average price is $232.95. First Solar has a 12 month low of $149.54 and a 12 month high of $320.95. The firm has a market capitalization of $25.69 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.53 and a beta of 1.70. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the firm posted $1.95 earnings per share. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. Equities research analysts forecast that First Solar will post 17.61 EPS for the current year.

First Solar News Roundup

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 498 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the transaction, the chief financial officer directly owned 30,712 shares in the company, valued at $6,622,428.56. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the firm’s stock in a transaction dated Thursday, May 28th. The stock was sold at an average price of $275.60, for a total value of $2,929,076.80. Following the transaction, the insider owned 23,792 shares of the company’s stock, valued at $6,557,075.20. This trade represents a 30.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,466 shares of company stock valued at $8,014,105 over the last ninety days. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Hedge funds have recently added to or reduced their stakes in the business. Aventura Private Wealth LLC bought a new stake in First Solar in the fourth quarter worth approximately $25,000. Commonwealth Retirement Investments LLC bought a new stake in First Solar in the fourth quarter worth approximately $26,000. Reflection Asset Management bought a new stake in First Solar in the fourth quarter worth approximately $26,000. Strategic Wealth Investment Group LLC bought a new stake in First Solar in the second quarter worth approximately $26,000. Finally, Larson Financial Group LLC increased its holdings in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.