First Solar (NASDAQ:FSLR) was upgraded by Robert W. Baird from a “neutral” rating to an “outperform” rating in a research note issued to investors on Monday. The brokerage presently has a $82.00 target price on the solar cell manufacturer’s stock, up from their prior target price of $69.00. Robert W. Baird’s target price points to a potential upside of 19.00% from the company’s previous close.
Several other equities research analysts have also commented on the company. Vetr lowered First Solar from a “hold” rating to a “sell” rating and set a $65.50 target price on the stock. in a research report on Thursday, December 7th. Deutsche Bank upped their target price on First Solar from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, December 6th. Cowen restated an “outperform” rating and set a $77.00 target price (up previously from $60.00) on shares of First Solar in a research report on Wednesday, December 6th. ValuEngine lowered First Solar from a “strong-buy” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $65.00 target price on shares of First Solar in a research report on Friday, December 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and two have given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $61.00.
Shares of First Solar (NASDAQ:FSLR) opened at $68.91 on Monday. The firm has a market capitalization of $7,312.40, a PE ratio of 17.16 and a beta of 2.03. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.85 and a quick ratio of 6.47. First Solar has a one year low of $25.56 and a one year high of $71.80.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating the consensus estimate of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The business’s quarterly revenue was up 59.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.22 earnings per share. sell-side analysts expect that First Solar will post 2.47 EPS for the current year.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.58% of the stock is currently owned by corporate insiders.
A number of large investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado boosted its holdings in First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after acquiring an additional 165 shares in the last quarter. Intellectus Partners LLC boosted its holdings in First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after acquiring an additional 200 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in First Solar by 0.8% in the second quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock worth $1,905,000 after acquiring an additional 360 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in First Solar by 4.9% in the second quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock worth $403,000 after acquiring an additional 470 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in First Solar by 1.5% in the second quarter. Arizona State Retirement System now owns 33,000 shares of the solar cell manufacturer’s stock worth $1,316,000 after acquiring an additional 500 shares in the last quarter. Institutional investors and hedge funds own 51.21% of the company’s stock.
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First Solar Company Profile
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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