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

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average recommendation of “Moderate Buy” by the thirty-two research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $246.1044.

Several equities research analysts have weighed in on FSLR shares. Jefferies Financial Group dropped their target price on First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Zacks Research raised First Solar from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Wall Street Zen lowered First Solar from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. Glj Research lowered First Solar from a “buy” rating to a “hold” rating and dropped their target price for the stock from $314.43 to $207.82 in a research report on Wednesday, March 4th. Finally, HSBC increased their price target on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 3,426 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $671,256.18. Following the completion of the transaction, the insider owned 8,334 shares of the company’s stock, valued at $1,632,880.62. This trade represents a 29.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Markus Gloeckler sold 3,640 shares of the firm’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $196.95, for a total value 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 position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 81,204 shares of company stock valued at $16,043,186. Company insiders own 0.39% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Joule Financial LLC purchased a new stake in shares of First Solar during the third quarter valued at $950,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock valued at $17,015,000 after purchasing an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of First Solar during the third quarter valued at $1,193,000. Candriam S.C.A. lifted its holdings in shares of First Solar by 70.2% during the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock valued at $33,163,000 after purchasing an additional 62,048 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of First Solar by 3.5% during the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after purchasing an additional 464,130 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $219.95 on Friday. First Solar has a 1-year low of $133.75 and a 1-year high of $285.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The business’s fifty day moving average price is $196.96 and its two-hundred day moving average price is $231.41. The firm has a market capitalization of $23.63 billion, a PE ratio of 14.21, a P/E/G ratio of 0.49 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate 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 company earned $1.95 earnings per share. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts expect that First Solar will post 17.58 EPS for the current year.

Key First Solar News

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

• Positive Sentiment: Freedom Capital upgraded First Solar from hold to strong-buy, adding to the bullish case for the stock. Read More
• Positive Sentiment: HSBC raised its price target on First Solar to $231, suggesting further upside from current levels. HSBC Increases First Solar (NASDAQ:FSLR) Price Target to $231.00
• Positive Sentiment: Barclays issued a buy rating on First Solar, and Susquehanna also reportedly gave the stock a buy rating, reinforcing the upbeat analyst tone. First Solar (FSLR) Gets a Buy from Barclays First Solar (FSLR) Receives a Buy from Susquehanna
• Positive Sentiment: Coverage highlighting “3 big reasons to love First Solar” and a Zacks note that FSLR is a trending stock may be helping keep investor attention on the name. First Solar, Inc. (FSLR) Is a Trending Stock: Facts to Know Before Betting on It
• Neutral Sentiment: First Solar CEO sold about $329,051 worth of stock, which can draw some investor caution but is not necessarily a fundamental change in the company’s outlook. Insider Selling: First Solar (NASDAQ:FSLR) CEO Sells $329,051.38 in 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.