First Solar (NASDAQ:FSLR) has been given a $80.00 target price by research analysts at Roth Capital in a research report issued to clients and investors on Monday. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. Roth Capital’s price target points to a potential upside of 14.25% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Cowen reiterated a “buy” rating and issued a $57.00 price target on shares of First Solar in a research report on Sunday, September 3rd. Robert W. Baird reiterated a “hold” rating and issued a $53.00 price target on shares of First Solar in a report on Friday, October 27th. Needham & Company LLC reiterated a “buy” rating and issued a $65.00 price target on shares of First Solar in a report on Friday, December 1st. JMP Securities reissued an “outperform” rating and issued a $50.00 price objective (down from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Finally, Vetr raised First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 price objective for the company in a research note on Wednesday, October 11th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $60.13.
Shares of First Solar (NASDAQ FSLR) opened at $70.02 on Monday. The stock has a market capitalization of $7,312.40, a price-to-earnings ratio of 17.16 and a beta of 2.03. First Solar has a one year low of $25.56 and a one year high of $70.27. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same period in the prior year, the company posted $1.22 EPS. The company’s revenue was up 59.5% compared to the same quarter last year. equities analysts predict that First Solar will post 2.47 earnings per share for the current fiscal year.
In related news, CEO Mark R. Widmar sold 20,270 shares of the company’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now owns 100,754 shares of the company’s stock, valued at approximately $6,488,557.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.58% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Fiduciary Trust Co. purchased a new stake in First Solar in the 2nd quarter worth about $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after buying an additional 1,716 shares during the period. Garner Asset Management Corp purchased a new position in First Solar during the second quarter valued at approximately $208,000. World Asset Management Inc purchased a new position in First Solar during the second quarter valued at approximately $221,000. Finally, Riverhead Capital Management LLC boosted its stake in First Solar by 82.6% in the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 2,560 shares in the last quarter. 51.21% of the stock is owned by hedge funds and other institutional investors.
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About First Solar
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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