First Solar, Inc. (NASDAQ:FSLR) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have received a consensus rating of “Moderate Buy” from the twenty-five research firms that are covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold recommendation and twenty-two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $275.36.

A number of analysts have recently weighed in on FSLR shares. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. Morgan Stanley increased their price objective on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Mizuho reaffirmed a “neutral” rating and set a $274.00 price target (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, BMO Capital Markets cut their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research note on Wednesday, July 31st.

Insider Transactions at First Solar

In related news, insider Michael Koralewski sold 4,646 shares of the business’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $272.92, for a total value of $1,267,986.32. Following the transaction, the insider now owns 7,766 shares in the company, valued at $2,119,496.72. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Koralewski sold 4,646 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $272.92, for a total transaction of $1,267,986.32. Following the completion of the sale, the insider now directly owns 7,766 shares of the company’s stock, valued at $2,119,496.72. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,203 shares of company stock worth $9,598,253. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. International Assets Investment Management LLC bought a new position in First Solar in the fourth quarter worth approximately $26,000,000. Sequoia Financial Advisors LLC acquired a new stake in First Solar in the 4th quarter valued at $240,000. Simplicity Solutions LLC acquired a new position in First Solar during the fourth quarter worth $212,000. Louisiana State Employees Retirement System bought a new position in shares of First Solar in the fourth quarter valued at $1,120,000. Finally, Duncker Streett & Co. Inc. bought a new stake in shares of First Solar during the fourth quarter worth about $138,000. Institutional investors own 92.08% of the company’s stock.

First Solar Trading Down 2.0 %

FSLR stock opened at $218.26 on Friday. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a market capitalization of $23.36 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.37 and a beta of 1.44. The company’s 50-day simple moving average is $229.89 and its 200 day simple moving average is $201.39. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $1.85 earnings per share. As a group, sell-side analysts anticipate that First Solar will post 13.53 earnings per share for the current year.

First Solar Company Profile

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.