First Solar, Inc. (NASDAQ:FSLR) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have received an average recommendation of “Moderate Buy” from the thirty-two analysts that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $224.48.

Several research firms have commented on FSLR. Robert W. Baird lowered their price objective on shares of First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Citigroup reduced their price target on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 26th. StockNews.com downgraded shares of First Solar from a “hold” rating to a “sell” rating in a research note on Friday, May 2nd. Finally, Wells Fargo & Company reduced their price target on shares of First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th.

Insider Activity

In other news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. The trade was a 67.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 229 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Woodline Partners LP lifted its position in First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after buying an additional 2,615 shares during the last quarter. McIlrath & Eck LLC lifted its position in First Solar by 4,505.0% in the first quarter. McIlrath & Eck LLC now owns 921 shares of the solar cell manufacturer’s stock valued at $116,000 after buying an additional 901 shares during the last quarter. Empowered Funds LLC lifted its position in First Solar by 416.0% in the first quarter. Empowered Funds LLC now owns 74,857 shares of the solar cell manufacturer’s stock valued at $9,464,000 after buying an additional 60,350 shares during the last quarter. United Services Automobile Association acquired a new position in First Solar in the first quarter valued at about $309,000. Finally, Meiji Yasuda Asset Management Co Ltd. lifted its position in First Solar by 5.3% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,582 shares of the solar cell manufacturer’s stock valued at $200,000 after buying an additional 80 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Down 4.1%

Shares of NASDAQ:FSLR opened at $178.46 on Friday. The firm has a fifty day moving average price of $134.97 and a two-hundred day moving average price of $163.14. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a one year low of $116.56 and a one year high of $306.77. The company has a market cap of $19.14 billion, a price-to-earnings ratio of 15.37, a PEG ratio of 0.19 and a beta of 1.46.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts’ consensus estimates of $2.50 by ($0.55). The business had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.20 EPS. Analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

About First Solar

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.