First Solar (NASDAQ:FSLR) Lowered to Hold at DZ Bank

DZ Bank lowered shares of First Solar (NASDAQ:FSLRFree Report) from a buy rating to a hold rating in a research note released on Wednesday, Marketbeat.com reports. They currently have $270.00 price objective on the solar cell manufacturer’s stock.

A number of other research firms have also recently issued reports on FSLR. Janney Montgomery Scott assumed coverage on First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 price objective for the company. JPMorgan Chase & Co. boosted their price target on First Solar from $240.00 to $262.00 and gave the stock an overweight rating in a research report on Thursday, May 23rd. The Goldman Sachs Group boosted their price target on First Solar from $265.00 to $268.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an outperform rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Finally, Oppenheimer boosted their price target on First Solar from $269.00 to $271.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $251.16.

Check Out Our Latest Report on First Solar

First Solar Price Performance

FSLR opened at $271.76 on Wednesday. The stock has a market cap of $29.09 billion, a price-to-earnings ratio of 28.49, a PEG ratio of 0.37 and a beta of 1.37. First Solar has a 1 year low of $129.21 and a 1 year high of $286.60. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a fifty day moving average price of $194.93 and a 200 day moving average price of $169.37.

First Solar (NASDAQ:FSLRGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.40 earnings per share. Analysts forecast that First Solar will post 13.56 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Markus Gloeckler sold 679 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the sale, the chief technology officer now owns 14,473 shares in the company, valued at $2,315,680. The disclosure for this sale can be found here. Insiders have sold 74,652 shares of company stock worth $16,151,867 over the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of the stock. Cambridge Trust Co. grew its stake in shares of First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after purchasing an additional 50 shares during the period. Clean Yield Group grew its position in First Solar by 35.6% during the 1st quarter. Clean Yield Group now owns 27,034 shares of the solar cell manufacturer’s stock worth $4,563,000 after acquiring an additional 7,104 shares during the last quarter. Cetera Advisors LLC grew its position in First Solar by 100.3% during the 1st quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock worth $928,000 after acquiring an additional 2,753 shares during the last quarter. Cetera Investment Advisers grew its position in First Solar by 1,400.4% during the 1st quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after acquiring an additional 22,392 shares during the last quarter. Finally, Swedbank AB bought a new stake in First Solar during the 1st quarter worth approximately $21,815,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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