Deutsche Bank Aktiengesellschaft Upgrades First Solar (NASDAQ:FSLR) to Buy

First Solar (NASDAQ:FSLR) was upgraded by equities research analysts at Deutsche Bank Aktiengesellschaft from a “hold” rating to a “buy” rating in a report issued on Friday, MarketBeat.com reports. The firm currently has a $235.00 price target on the solar cell manufacturer’s stock, up from their previous price target of $220.00. Deutsche Bank Aktiengesellschaft’s price target indicates a potential upside of 28.27% from the company’s previous close.

A number of other equities research analysts have also issued reports on FSLR. Oppenheimer upped their target price on shares of First Solar from $222.00 to $262.00 in a research note on Friday, July 28th. Wolfe Research lowered shares of First Solar from an “outperform” rating to a “market perform” rating in a research note on Monday, May 15th. 51job reissued a “maintains” rating on shares of First Solar in a research note on Monday, June 26th. JPMorgan Chase & Co. upped their price target on shares of First Solar from $192.00 to $222.00 and gave the company a “neutral” rating in a research report on Friday, July 28th. Finally, StockNews.com began coverage on shares of First Solar in a research report on Thursday, August 17th. They issued a “hold” rating for the company. Nine investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $233.31.

First Solar Stock Performance

NASDAQ:FSLR opened at $183.21 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.66 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 125.49 and a beta of 1.40. The firm’s fifty day simple moving average is $192.16 and its 200 day simple moving average is $196.52. First Solar has a twelve month low of $115.66 and a twelve month high of $232.00.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.90. First Solar had a net margin of 5.23% and a return on equity of 3.13%. The business had revenue of $810.67 million for the quarter, compared to analyst estimates of $720.43 million. As a group, equities research analysts expect that First Solar will post 7.92 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 2,160 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $223.41, for a total value of $482,565.60. Following the completion of the sale, the chief executive officer now directly owns 81,861 shares of the company’s stock, valued at approximately $18,288,566.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other First Solar news, CEO Mark R. Widmar sold 2,160 shares of the stock in a transaction on Friday, July 28th. The shares were sold at an average price of $223.41, for a total value of $482,565.60. Following the completion of the sale, the chief executive officer now directly owns 81,861 shares of the company’s stock, valued at approximately $18,288,566.01. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 5,500 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $186.22, for a total transaction of $1,024,210.00. Following the transaction, the chief financial officer now directly owns 35,419 shares of the company’s stock, valued at $6,595,726.18. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,452 shares of company stock worth $6,833,334. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in the company. Armstrong Advisory Group Inc. acquired a new stake in First Solar in the 1st quarter valued at about $25,000. Massmutual Trust Co. FSB ADV lifted its position in shares of First Solar by 172.7% in the first quarter. Massmutual Trust Co. FSB ADV now owns 150 shares of the solar cell manufacturer’s stock worth $33,000 after purchasing an additional 95 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC bought a new stake in shares of First Solar in the first quarter worth $33,000. Spire Wealth Management lifted its position in shares of First Solar by 67.9% in the first quarter. Spire Wealth Management now owns 178 shares of the solar cell manufacturer’s stock worth $39,000 after purchasing an additional 72 shares in the last quarter. Finally, Valley National Advisers Inc. bought a new stake in First Solar during the first quarter worth $39,000. Institutional investors and hedge funds own 82.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.