Williams Capital started coverage on shares of First Solar Inc. (NASDAQ:FSLR) in a report released on Friday morning. The firm issued a buy rating and a $50.00 price objective on the solar cell manufacturer’s stock.
Several other analysts have also recently issued reports on FSLR. Vetr cut shares of First Solar from a strong-buy rating to a buy rating and set a $54.99 price target on the stock. in a research report on Wednesday, August 3rd. JMP Securities set a $32.00 price target on shares of First Solar and gave the stock a sell rating in a research report on Saturday, September 17th. Janney Montgomery Scott reissued a buy rating and set a $68.00 price target (down previously from $89.00) on shares of First Solar in a research report on Friday, August 5th. S&P Equity Research cut shares of First Solar from a buy rating to a hold rating and reduced their price target for the stock from $75.00 to $55.00 in a research report on Friday, August 5th. Finally, Barclays PLC cut their target price on shares of First Solar from $68.00 to $50.00 and set an overweight rating on the stock in a research note on Wednesday, August 10th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twelve have given a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $57.88.
Shares of First Solar (NASDAQ:FSLR) opened at 39.74 on Friday. The firm has a market capitalization of $4.07 billion, a PE ratio of 5.85 and a beta of 1.54. The firm’s 50-day moving average is $37.34 and its 200 day moving average is $48.42. First Solar has a 52 week low of $33.74 and a 52 week high of $74.29.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.32. The business had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $862.68 million. First Solar had a net margin of 17.45% and a return on equity of 13.78%. The business’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.93 earnings per share. On average, equities analysts forecast that First Solar will post $4.25 earnings per share for the current year.
In related news, insider Georges Antoun sold 133,761 shares of First Solar stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.54, for a total transaction of $5,957,714.94. Following the completion of the sale, the insider now owns 151,471 shares in the company, valued at approximately $6,746,518.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director James Alton Hughes sold 180,448 shares of First Solar stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.43, for a total value of $8,017,304.64. Following the sale, the director now owns 201,577 shares of the company’s stock, valued at approximately $8,956,066.11. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in First Solar by 22.3% in the third quarter. BNP Paribas Arbitrage SA now owns 75,303 shares of the solar cell manufacturer’s stock worth $2,974,000 after buying an additional 13,731 shares in the last quarter. Kentucky Retirement Systems bought a new stake in First Solar during the second quarter worth approximately $316,000. Northwestern Mutual Investment Management Company LLC boosted its stake in First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock worth $142,000 after buying an additional 11 shares in the last quarter. Mason Street Advisors LLC bought a new stake in First Solar during the second quarter worth approximately $501,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in First Solar by 4.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,475 shares of the solar cell manufacturer’s stock worth $605,000 after buying an additional 516 shares in the last quarter. Hedge funds and other institutional investors own 57.50% of the company’s stock.
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 thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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