First Solar (NASDAQ:FSLR) Earns Outperform Rating from BMO Capital Markets

First Solar (NASDAQ:FSLR)‘s stock had its “outperform” rating reissued by equities research analysts at BMO Capital Markets in a report released on Wednesday, Benzinga reports. They presently have a $260.00 target price on the solar cell manufacturer’s stock, down from their previous target price of $286.00. BMO Capital Markets’ price objective suggests a potential upside of 32.11% from the company’s previous close.

FSLR has been the topic of several other research reports. Morgan Stanley lowered their price target on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research report on Wednesday. Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price target on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Janney Montgomery Scott upgraded First Solar from a “neutral” rating to a “buy” rating and set a $260.00 price objective for the company in a research report on Tuesday. Finally, Susquehanna cut their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday. Two analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $285.33.

First Solar Price Performance

Shares of First Solar stock traded down $2.86 during trading hours on Wednesday, reaching $196.81. 3,587,488 shares of the company’s stock were exchanged, compared to its average volume of 2,406,796. The business has a fifty day moving average of $223.18 and a two-hundred day moving average of $224.11. The company has a market capitalization of $21.07 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million during the quarter, compared to analyst estimates of $1.07 billion. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.50 EPS. As a group, research analysts predict that First Solar will post 13.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new stake in shares of First Solar during the 3rd quarter worth approximately $25,000. Atlas Capital Advisors LLC raised its stake in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares during the last quarter. Summit Securities Group LLC purchased a new stake in shares of First Solar in the 2nd quarter worth about $36,000. Itau Unibanco Holding S.A. acquired a new position in shares of First Solar during the 2nd quarter worth approximately $38,000. Finally, Alta Advisers Ltd acquired a new stake in shares of First Solar during the second quarter valued at $45,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.