Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average recommendation of “Buy” by the nineteen research firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $67.55.
FSLR has been the subject of a number of recent analyst reports. BidaskClub cut shares of First Solar from a “buy” rating to a “hold” rating in a report on Tuesday. JPMorgan Chase & Co. restated an “overweight” rating and set a $72.00 price target (up from $70.00) on shares of First Solar in a report on Monday, May 6th. Zacks Investment Research cut shares of First Solar from a “hold” rating to a “sell” rating in a report on Monday, April 29th. 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. Finally, Bank of America restated a “buy” rating and set a $60.00 price target on shares of First Solar in a report on Tuesday, February 26th.
In related news, CTO Raffi Garabedian sold 20,141 shares of the stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $60.05, for a total value of $1,209,467.05. Following the completion of the sale, the chief technology officer now owns 31,099 shares in the company, valued at $1,867,494.95. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 754 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $49.67, for a total transaction of $37,451.18. Following the completion of the sale, the chief financial officer now owns 13,296 shares of the company’s stock, valued at approximately $660,412.32. The disclosure for this sale can be found here. In the last quarter, insiders sold 117,572 shares of company stock valued at $6,997,116. 0.72% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Manchester Capital Management LLC acquired a new stake in First Solar in the 1st quarter valued at $27,000. JOYN Advisors Inc. increased its stake in First Solar by 130.2% in the 4th quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock valued at $26,000 after buying an additional 341 shares during the last quarter. TCG Advisors LP acquired a new stake in First Solar in the 1st quarter valued at $32,000. Private Capital Group LLC increased its stake in First Solar by 68.6% in the 4th quarter. Private Capital Group LLC now owns 1,165 shares of the solar cell manufacturer’s stock valued at $49,000 after buying an additional 474 shares during the last quarter. Finally, Lavaca Capital LLC acquired a new stake in First Solar in the 1st quarter valued at $79,000. Institutional investors and hedge funds own 61.50% of the company’s stock.
First Solar stock traded up $0.55 during mid-day trading on Friday, hitting $59.88. 44,502 shares of the company’s stock were exchanged, compared to its average volume of 1,432,990. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.38 and a quick ratio of 3.83. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 44.04, a PEG ratio of 1.04 and a beta of 1.32. First Solar has a 1-year low of $36.51 and a 1-year high of $75.14.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.52). The business had revenue of $532.00 million for the quarter, compared to analyst estimates of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The company’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.78 earnings per share. As a group, sell-side analysts anticipate that First Solar will post 2.41 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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