First Solar, Inc. (NASDAQ:FSLR) Receives Average Recommendation of “Moderate Buy” from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and twenty-three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $238.16.

Several equities research analysts recently weighed in on FSLR shares. UBS Group raised their price target on shares of First Solar from $250.00 to $252.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley lifted their target price on First Solar from $245.00 to $248.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target on the stock in a report on Tuesday, April 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. boosted their target price on First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold 28,620 shares of company stock valued at $4,663,000 over the last quarter. 0.58% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of First Solar by 4.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after purchasing an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in First Solar by 504.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after buying an additional 333,496 shares in the last quarter. Sora Investors LLC increased its stake in First Solar by 63.6% in the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after acquiring an additional 35,000 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after acquiring an additional 279,424 shares in the last quarter. Finally, Bull Oak Capital LLC boosted its position in shares of First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after acquiring an additional 155,342 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Trading Up 0.4 %

NASDAQ FSLR opened at $194.67 on Wednesday. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. 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’s fifty day moving average price is $168.55 and its 200-day moving average price is $158.92. The stock has a market cap of $20.84 billion, a P/E ratio of 20.41, a P/E/G ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. First Solar’s revenue was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.40 EPS. As a group, equities analysts forecast that First Solar will post 13.55 EPS for the current fiscal year.

First Solar Company Profile

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.