Shares of First Solar, Inc. (NASDAQ:FSLR) have earned a consensus recommendation of “Buy” from the twenty research firms that are covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and twelve have issued a buy recommendation on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $65.42.
A number of research analysts have issued reports on the stock. Cowen set a $74.00 price target on shares of First Solar and gave the stock a “buy” rating in a report on Wednesday, December 12th. Roth Capital decreased their price target on shares of First Solar to $60.00 and set a “buy” rating for the company in a report on Friday, February 15th. Goldman Sachs Group raised shares of First Solar to a “buy” rating and set a $57.00 price target for the company in a report on Wednesday, January 16th. Cascend Securities upgraded shares of First Solar from a “hold” rating to a “buy” rating in a research note on Monday, December 17th. Finally, JPMorgan Chase & Co. cut their price objective on shares of First Solar to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 22nd.
In related news, CFO Alexander R. Bradley sold 1,254 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $51.30, for a total transaction of $64,330.20. Following the sale, the chief financial officer now owns 8,887 shares in the company, valued at $455,903.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 6,427 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $53.65, for a total transaction of $344,808.55. Following the sale, the chief financial officer now owns 6,427 shares in the company, valued at approximately $344,808.55. The disclosure for this sale can be found here. Insiders sold 8,662 shares of company stock worth $458,862 in the last quarter. Company insiders own 0.54% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its position in First Solar by 38.9% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 15,358 shares of the solar cell manufacturer’s stock valued at $744,000 after purchasing an additional 4,305 shares during the last quarter. ING Groep NV acquired a new position in First Solar during the third quarter valued at approximately $259,000. SG Americas Securities LLC boosted its position in First Solar by 38.9% during the third quarter. SG Americas Securities LLC now owns 54,913 shares of the solar cell manufacturer’s stock valued at $2,659,000 after purchasing an additional 15,391 shares during the last quarter. MML Investors Services LLC boosted its position in First Solar by 30.1% during the third quarter. MML Investors Services LLC now owns 6,491 shares of the solar cell manufacturer’s stock valued at $314,000 after purchasing an additional 1,501 shares during the last quarter. Finally, Commonwealth Bank of Australia boosted its position in First Solar by 47.4% during the third quarter. Commonwealth Bank of Australia now owns 12,600 shares of the solar cell manufacturer’s stock valued at $609,000 after purchasing an additional 4,050 shares during the last quarter. Institutional investors own 59.67% of the company’s stock.
Shares of NASDAQ FSLR traded down $2.40 during midday trading on Thursday, reaching $52.41. The company had a trading volume of 1,948,214 shares, compared to its average volume of 1,624,110. The stock has a market cap of $5.50 billion, a P/E ratio of 38.54, a P/E/G ratio of 1.53 and a beta of 1.27. First Solar has a 1 year low of $36.51 and a 1 year high of $81.72. The company has a current ratio of 4.57, a quick ratio of 4.11 and a debt-to-equity ratio of 0.09.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, February 21st. The solar cell manufacturer reported $0.49 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.64 by ($0.15). The company had revenue of $691.00 million during the quarter, compared to analysts’ expectations of $812.52 million. First Solar had a return on equity of 2.80% and a net margin of 6.43%. The company’s quarterly revenue was up 103.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.25) EPS. As a group, sell-side analysts forecast that First Solar will post 2.48 earnings per share for the current year.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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