BidaskClub cut shares of First Solar (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a report published on Saturday, January 6th.
Other equities analysts have also issued reports about the stock. ValuEngine lowered shares of First Solar from a strong-buy rating to a buy rating in a report on Friday, December 1st. Bank of America reiterated a neutral rating and issued a $70.00 target price on shares of First Solar in a report on Thursday, December 14th. Vetr upgraded shares of First Solar from a hold rating to a buy rating and set a $48.80 target price on the stock in a report on Monday, September 11th. Needham & Company LLC reiterated a buy rating and issued a $65.00 target price on shares of First Solar in a report on Friday, December 1st. Finally, Zacks Investment Research upgraded shares of First Solar from a hold rating to a buy rating and set a $68.00 target price on the stock in a report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, ten have given a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $63.13.
First Solar (NASDAQ FSLR) opened at $71.22 on Friday. The firm has a market cap of $7,440.00, a PE ratio of -17.12 and a beta of 2.04. First Solar has a 52-week low of $25.56 and a 52-week high of $76.61. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $859.22 million. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. First Solar’s quarterly revenue was up 59.5% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 earnings per share. analysts anticipate that First Solar will post 2.52 EPS for the current fiscal year.
In other news, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The shares were sold at an average price of $70.06, for a total value of $790,557.04. Following the sale, the insider now directly owns 9,227 shares of the company’s stock, valued at approximately $646,443.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the completion of the sale, the chief operating officer now directly owns 10,424 shares in the company, valued at $707,059.92. The disclosure for this sale can be found here. Insiders sold a total of 46,858 shares of company stock worth $3,134,015 over the last three months. Insiders own 0.58% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in FSLR. State of Wisconsin Investment Board increased its stake in First Solar by 8.0% during the 2nd quarter. State of Wisconsin Investment Board now owns 16,248 shares of the solar cell manufacturer’s stock worth $648,000 after buying an additional 1,210 shares during the period. Legal & General Group Plc increased its stake in First Solar by 15.7% during the 2nd quarter. Legal & General Group Plc now owns 109,218 shares of the solar cell manufacturer’s stock worth $4,357,000 after buying an additional 14,810 shares during the period. American Century Companies Inc. purchased a new stake in First Solar during the 2nd quarter worth approximately $289,000. Utah Retirement Systems increased its stake in First Solar by 8.8% during the 2nd quarter. Utah Retirement Systems now owns 14,900 shares of the solar cell manufacturer’s stock worth $595,000 after buying an additional 1,200 shares during the period. Finally, Pacer Advisors Inc. increased its stake in First Solar by 4.9% during the 2nd quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock worth $403,000 after buying an additional 470 shares during the period. 50.88% of the stock is currently 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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