Vetr lowered shares of First Solar Inc. (NASDAQ:FSLR) from a strong-buy rating to a buy rating in a research note released on Thursday. Vetr currently has $43.85 price objective on the solar cell manufacturer’s stock.
A number of other equities analysts have also weighed in on FSLR. Needham & Company LLC reaffirmed a hold rating on shares of First Solar in a research note on Monday, June 27th. Deutsche Bank AG lowered First Solar from a buy rating to a hold rating and dropped their price objective for the stock from $80.00 to $44.00 in a research note on Thursday, July 7th. Robert W. Baird reaffirmed an outperform rating and issued a $60.00 price objective (down previously from $68.00) on shares of First Solar in a research note on Friday, July 8th. Morgan Stanley set a $59.00 price objective on First Solar and gave the stock a hold rating in a research note on Wednesday, August 3rd. Finally, Goldman Sachs Group Inc. reiterated a buy rating and issued a $67.00 target price on shares of First Solar in a research report on Thursday, August 4th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have assigned a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $56.83.
First Solar (NASDAQ:FSLR) traded down 5.23% during trading on Thursday, reaching $37.67. The company had a trading volume of 2,910,021 shares. The company has a market capitalization of $3.86 billion, a PE ratio of 5.55 and a beta of 1.54. First Solar has a one year low of $33.74 and a one year high of $74.29. The firm’s 50 day moving average is $37.43 and its 200 day moving average is $48.36.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to analyst estimates of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The business’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.93 earnings per share. On average, equities research analysts predict that First Solar will post $4.25 earnings per share for the current year.
In other First Solar news, EVP Christopher Bueter sold 29,384 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $44.23, for a total transaction of $1,299,654.32. Following the sale, the executive vice president now owns 17,718 shares of the company’s stock, valued at approximately $783,667.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 133,761 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.54, for a total value of $5,957,714.94. Following the sale, the insider now directly owns 151,471 shares in the company, valued at approximately $6,746,518.34. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Hedge funds have recently made changes to their positions in the stock. Deane Retirement Strategies Inc. bought a new stake in shares of First Solar during the third quarter valued at about $1,554,000. BNP Paribas Arbitrage SA boosted its stake in shares of 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 valued at $2,974,000 after buying an additional 13,731 shares during the period. Kentucky Retirement Systems bought a new stake in shares of First Solar during the second quarter valued at about $316,000. Northwestern Mutual Investment Management Company LLC boosted its stake in shares of 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 valued at $142,000 after buying an additional 11 shares during the period. Finally, Mason Street Advisors LLC bought a new stake in shares of First Solar during the second quarter valued at about $501,000. 57.50% of the stock is currently owned by institutional investors and hedge funds.
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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