First Solar, Inc. (NASDAQ:FSLR) Receives $106.95 Consensus Price Target from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have received a consensus rating of “Hold” from the twenty-four ratings firms that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, thirteen have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $107.35.

A number of equities analysts recently weighed in on the stock. Morgan Stanley increased their price objective on shares of First Solar from $57.00 to $61.00 and gave the stock an “underweight” rating in a research report on Tuesday, September 21st. Guggenheim cut shares of First Solar from a “buy” rating to a “neutral” rating and set a $103.00 price objective for the company. in a research report on Wednesday, October 20th. Wells Fargo & Company assumed coverage on shares of First Solar in a research report on Monday. They set an “equal weight” rating and a $115.00 price objective for the company. Susquehanna increased their price objective on shares of First Solar from $123.00 to $140.00 and gave the stock a “positive” rating in a research report on Tuesday, November 9th. Finally, Needham & Company LLC started coverage on shares of First Solar in a research report on Thursday, September 9th. They set a “hold” rating for the company.

Shares of First Solar stock traded up $1.14 during mid-day trading on Friday, hitting $108.28. The stock had a trading volume of 2,096,551 shares, compared to its average volume of 2,150,343. The firm has a 50-day moving average of $105.34 and a two-hundred day moving average of $92.89. First Solar has a 12-month low of $67.71 and a 12-month high of $123.13. The company has a quick ratio of 3.35, a current ratio of 4.26 and a debt-to-equity ratio of 0.04. The firm has a market cap of $11.51 billion, a P/E ratio of 25.60, a price-to-earnings-growth ratio of 2.37 and a beta of 1.35.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, November 4th. The solar cell manufacturer reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.60 by ($0.18). First Solar had a net margin of 17.26% and a return on equity of 7.94%. The firm had revenue of $583.50 million during the quarter, compared to analysts’ expectations of $688.10 million. During the same period last year, the company earned $1.45 EPS. The business’s quarterly revenue was down 37.1% on a year-over-year basis. Sell-side analysts expect that First Solar will post 4.23 earnings per share for the current year.

In other First Solar news, Director R Craig Kennedy sold 1,200 shares of the firm’s stock in a transaction on Monday, November 15th. The shares were sold at an average price of $111.17, for a total transaction of $133,404.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, General Counsel Jason E. Dymbort sold 1,120 shares of the firm’s stock in a transaction on Tuesday, October 19th. The stock was sold at an average price of $104.80, for a total transaction of $117,376.00. The disclosure for this sale can be found here. Insiders have sold a total of 2,923 shares of company stock worth $318,810 over the last quarter. 0.55% of the stock is owned by company insiders.

Several large investors have recently modified their holdings of FSLR. Private Ocean LLC purchased a new stake in shares of First Solar in the third quarter valued at about $38,000. Eaton Vance Management purchased a new stake in shares of First Solar in the first quarter valued at about $39,000. Penserra Capital Management LLC boosted its holdings in shares of First Solar by 141.3% in the second quarter. Penserra Capital Management LLC now owns 514 shares of the solar cell manufacturer’s stock valued at $45,000 after acquiring an additional 301 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of First Solar in the second quarter valued at about $46,000. Finally, Fifth Third Bancorp boosted its holdings in shares of First Solar by 87.0% in the third quarter. Fifth Third Bancorp now owns 533 shares of the solar cell manufacturer’s stock valued at $51,000 after acquiring an additional 248 shares in the last quarter. 73.48% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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