Roth Capital Raises First Solar, Inc. (NASDAQ:FSLR) Price Target to $55.00
First Solar, Inc. (NASDAQ:FSLR) had its target price upped by Roth Capital from $40.00 to $55.00 in a report released on Wednesday morning. Roth Capital currently has a buy rating on the solar cell manufacturer’s stock.
A number of other research analysts have also recently weighed in on FSLR. UBS AG upgraded shares of First Solar from a sell rating to a hold rating in a report on Tuesday, May 2nd. BidaskClub upgraded shares of First Solar from a buy rating to a strong-buy rating in a report on Monday, July 24th. TheStreet upgraded shares of First Solar from a d+ rating to a c rating in a report on Wednesday, July 19th. Axiom Securities upgraded shares of First Solar from a hold rating to a buy rating and lifted their price objective for the company from $45.40 to $51.00 in a report on Wednesday, July 19th. Finally, Cowen and Company restated an outperform rating and issued a $52.00 price objective (up previously from $47.00) on shares of First Solar in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $44.60.
First Solar (NASDAQ:FSLR) opened at 48.87 on Wednesday. The company’s market capitalization is $5.10 billion. The stock’s 50 day moving average is $40.61 and its 200-day moving average is $34.69. First Solar has a 1-year low of $25.56 and a 1-year high of $49.75.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.60. The firm had revenue of $623 million during the quarter, compared to analysts’ expectations of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.38%. The business’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. On average, analysts expect that First Solar will post $0.61 earnings per share for the current fiscal year.
In other First Solar news, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction on 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 Securities & Exchange Commission, which is available at this hyperlink. Also, Director J Thomas Presby acquired 4,000 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were purchased at an average price of $36.89 per share, with a total value of $147,560.00. Following the transaction, the director now owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Parsec Financial Management Inc. purchased a new position in shares of First Solar during the second quarter worth approximately $204,000. Texas Permanent School Fund increased its position in shares of First Solar by 1.1% in the second quarter. Texas Permanent School Fund now owns 57,107 shares of the solar cell manufacturer’s stock worth $2,277,000 after buying an additional 611 shares during the last quarter. World Asset Management Inc purchased a new position in shares of First Solar during the second quarter worth approximately $221,000. S&CO Inc. purchased a new position in shares of First Solar during the second quarter worth approximately $421,000. Finally, 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 worth $962,000 after buying an additional 125 shares during the last quarter. Institutional investors own 60.35% 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.
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