Cowen and Company set a $57.00 price target on First Solar, Inc. (NASDAQ:FSLR) in a research note issued to investors on Saturday. The firm currently has a buy rating on the solar cell manufacturer’s stock.

Other research analysts have also recently issued reports about the stock. Roth Capital raised shares of First Solar from a neutral rating to a buy rating and set a $40.00 target price on the stock in a research report on Thursday, April 27th. BidaskClub raised shares of First Solar from a hold rating to a buy rating in a research report on Wednesday, June 28th. Vetr cut shares of First Solar from a strong-buy rating to a buy rating and set a $47.53 target price on the stock. in a research report on Monday, July 17th. Axiom Securities raised shares of First Solar from a hold rating to a buy rating and boosted their target price for the stock from $45.40 to $51.00 in a research report on Wednesday, July 19th. Finally, Bank of America Corp reissued a buy rating and set a $54.00 target price (up from $38.00) on shares of First Solar in a research report on Wednesday, July 26th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Hold and an average target price of $44.57.

Shares of First Solar (NASDAQ FSLR) opened at 49.65 on Friday. The firm’s market capitalization is $5.18 billion. First Solar has a 12-month low of $25.56 and a 12-month high of $50.21. The firm’s 50-day moving average is $41.35 and its 200-day moving average is $34.90.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.60. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The business had revenue of $623 million for the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue for the quarter was down 38.7% compared to the same quarter last year. Equities research analysts forecast that First Solar will post $0.61 EPS for the current fiscal year.

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In other news, Director J Thomas Presby acquired 4,000 shares of First Solar stock in a transaction on Thursday, May 11th. The stock was bought at an average cost of $36.89 per share, with a total value of $147,560.00. Following the completion of the purchase, the director now owns 17,958 shares of the company’s stock, valued at $662,470.62. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction dated Friday, June 23rd. The shares were sold at an average price of $40.00, for a total transaction of $49,400.00. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of FSLR. BlackRock Inc. increased its position in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Solar by 6.1% in the first quarter. Dimensional Fund Advisors LP now owns 2,756,980 shares of the solar cell manufacturer’s stock worth $74,715,000 after buying an additional 158,896 shares in the last quarter. State Treasurer State of Michigan increased its position in shares of First Solar by 99.1% in the second quarter. State Treasurer State of Michigan now owns 754,373 shares of the solar cell manufacturer’s stock worth $30,084,000 after buying an additional 375,500 shares in the last quarter. Finally, DnB Asset Management AS increased its position in shares of First Solar by 0.6% in the first quarter. DnB Asset Management AS now owns 518,218 shares of the solar cell manufacturer’s stock worth $14,044,000 after buying an additional 3,300 shares in the last quarter. 60.70% of the stock is owned by institutional investors.

About First Solar

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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