First Solar, Inc. (NASDAQ:FSLR) – Equities researchers at KeyCorp issued their Q3 2021 earnings per share (EPS) estimates for First Solar in a research note issued to investors on Monday, September 20th. KeyCorp analyst S. Karp forecasts that the solar cell manufacturer will earn $0.77 per share for the quarter. KeyCorp has a “Sector Weight” rating on the stock. KeyCorp also issued estimates for First Solar’s Q4 2021 earnings at $0.70 EPS, FY2021 earnings at $4.21 EPS, FY2022 earnings at $2.72 EPS, FY2023 earnings at $3.86 EPS, FY2024 earnings at $4.44 EPS and FY2025 earnings at $5.03 EPS.
FSLR has been the subject of a number of other research reports. Citigroup cut shares of First Solar from a “buy” rating to a “neutral” rating and set a $100.00 target price for the company. in a report on Monday, July 12th. Needham & Company LLC assumed coverage on shares of First Solar in a research note on Thursday, September 9th. They issued a “hold” rating for the company. Susquehanna Bancshares upgraded shares of First Solar to a “positive” rating and raised their target price for the company from $89.00 to $120.00 in a research report on Monday, August 2nd. Susquehanna upgraded shares of First Solar from a “neutral” rating to a “positive” rating and upped their price target for the stock from $89.00 to $120.00 in a report on Monday, August 2nd. Finally, Guggenheim began coverage on First Solar in a report on Tuesday, August 3rd. They set a “buy” rating and a $113.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $102.76.
First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, July 29th. The solar cell manufacturer reported $0.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.17. First Solar had a return on equity of 10.05% and a net margin of 18.96%. The company had revenue of $629.18 million for the quarter, compared to analyst estimates of $632.03 million. During the same period in the prior year, the firm posted $0.35 EPS.
Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its stake in First Solar by 10,102.9% in the 1st quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock valued at $5,164,000 after purchasing an additional 96,786 shares during the period. Envestnet Asset Management Inc. raised its position in First Solar by 47.6% in the first quarter. Envestnet Asset Management Inc. now owns 18,458 shares of the solar cell manufacturer’s stock worth $1,611,000 after acquiring an additional 5,953 shares during the period. Sigma Planning Corp raised its position in First Solar by 4.1% in the first quarter. Sigma Planning Corp now owns 5,692 shares of the solar cell manufacturer’s stock worth $497,000 after acquiring an additional 226 shares during the period. The PNC Financial Services Group Inc. boosted its stake in First Solar by 2.7% in the first quarter. The PNC Financial Services Group Inc. now owns 23,360 shares of the solar cell manufacturer’s stock valued at $2,039,000 after acquiring an additional 612 shares during the last quarter. Finally, Swiss National Bank grew its position in shares of First Solar by 1.1% during the 1st quarter. Swiss National Bank now owns 181,600 shares of the solar cell manufacturer’s stock valued at $15,854,000 after acquiring an additional 1,900 shares during the period. 73.18% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Georges Antoun sold 24,052 shares of the company’s stock in a transaction dated Monday, July 12th. The shares were sold at an average price of $95.20, for a total value of $2,289,750.40. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Markus Gloeckler sold 2,048 shares of First Solar stock in a transaction dated Tuesday, August 10th. The shares were sold at an average price of $94.65, for a total value of $193,843.20. Following the transaction, the chief technology officer now owns 2,884 shares of the company’s stock, valued at approximately $272,970.60. The disclosure for this sale can be found here. Insiders sold a total of 39,827 shares of company stock valued at $3,694,772 over the last ninety days. 0.55% of the stock is currently owned by corporate insiders.
First Solar Company Profile
First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.
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