First Solar, Inc. (NASDAQ:FSLR) Receives $249.65 Average PT from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have received a consensus rating of “Moderate Buy” from the thirty-four ratings firms that are presently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, thirteen have issued a hold recommendation and twenty have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $249.6490.

A number of analysts have weighed in on FSLR shares. JPMorgan Chase & Co. cut their target price on shares of First Solar from $303.00 to $256.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Morgan Stanley lowered their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. DZ Bank upgraded First Solar to a “strong sell” rating in a research note on Thursday, February 26th. Glj Research lowered First Solar from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $314.43 to $207.82 in a research report on Wednesday, March 4th. Finally, Wells Fargo & Company lowered their target price on First Solar from $285.00 to $255.00 and set an “overweight” rating for the company in a report on Thursday, February 26th.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $199.48 on Friday. The firm has a 50 day moving average of $225.79 and a 200-day moving average of $236.47. The stock has a market capitalization of $21.41 billion, a PE ratio of 14.04, a PEG ratio of 0.32 and a beta of 1.65. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. First Solar has a 12 month low of $116.56 and a 12 month high of $285.99.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. During the same period last year, the business earned $3.65 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity

In other First Solar news, General Counsel Jason E. Dymbort sold 3,273 shares of First Solar stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total transaction of $641,278.89. Following the transaction, the general counsel directly owned 16,625 shares of the company’s stock, valued at approximately $3,257,336.25. The trade was a 16.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 3,426 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $671,256.18. Following the transaction, the insider owned 8,334 shares of the company’s stock, valued at $1,632,880.62. This trade represents a 29.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 47,761 shares of company stock valued at $9,276,424. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank acquired a new position in First Solar in the fourth quarter valued at $392,040,000. Viking Global Investors LP lifted its stake in shares of First Solar by 60.6% in the 2nd quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock valued at $375,122,000 after purchasing an additional 854,919 shares during the period. Polar Capital Holdings Plc acquired a new position in shares of First Solar in the 4th quarter valued at about $200,109,000. Lightrock Netherlands B.V. boosted its position in shares of First Solar by 2,663.8% during the 4th quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock valued at $174,059,000 after purchasing an additional 642,199 shares in the last quarter. Finally, Amundi boosted its position in shares of First Solar by 38.6% during the 3rd quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after purchasing an additional 564,032 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.