Axiom Securities reissued their buy rating on shares of First Solar, Inc. (NASDAQ:FSLR) in a research report report published on Wednesday.

A number of other analysts have also recently weighed in on the stock. Bank of America Corporation restated a buy rating and issued a $64.00 price objective on shares of First Solar in a research note on Tuesday. Vetr upgraded shares of First Solar from a sell rating to a hold rating and set a $47.67 price objective for the company in a research note on Wednesday, August 16th. JMP Securities set a $67.00 price objective on shares of First Solar and gave the stock a buy rating in a research note on Wednesday, August 16th. ValuEngine upgraded shares of First Solar from a hold rating to a buy rating in a research note on Friday, August 11th. Finally, Zacks Investment Research cut shares of First Solar from a buy rating to a hold rating in a research note on Friday, August 4th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and ten have given a buy rating to the stock. First Solar currently has a consensus rating of Hold and an average target price of $44.31.

Shares of First Solar (NASDAQ FSLR) opened at 48.09 on Wednesday. The firm’s market cap is $5.02 billion. The company has a 50-day moving average of $46.00 and a 200 day moving average of $36.78. First Solar has a 12-month low of $25.56 and a 12-month high of $50.21.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, topping the Zacks’ consensus estimate 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 during the quarter, compared to analysts’ expectations of $591.55 million. During the same period in the previous year, the company earned $0.87 earnings per share. First Solar’s revenue for the quarter was down 38.7% on a year-over-year basis. Equities research analysts anticipate that First Solar will post $2.11 earnings per share for the current fiscal year.

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In related news, 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Alexander R. Bradley sold 566 shares of the company’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the transaction, the chief financial officer now owns 963 shares in the company, valued at approximately $46,859.58. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,909 shares of company stock worth $4,705,246. 0.58% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Clear Harbor Asset Management LLC increased its position in shares of First Solar by 0.5% in the second quarter. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer’s stock valued at $716,000 after buying an additional 80 shares during the period. Daiwa Securities Group Inc. increased its position in shares of First Solar by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock valued at $962,000 after buying an additional 125 shares during the period. Public Employees Retirement Association of Colorado increased its position in shares of First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock valued at $602,000 after buying an additional 165 shares during the period. Gargoyle Investment Advisor L.L.C. increased its position in shares of First Solar by 1.2% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 14,591 shares of the solar cell manufacturer’s stock valued at $396,000 after buying an additional 180 shares during the period. Finally, Intellectus Partners LLC increased its position in shares of First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after buying an additional 200 shares during the period. Institutional investors and hedge funds own 53.61% of the company’s stock.

First Solar Company Profile

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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