First Solar Inc. (NASDAQ:FSLR)‘s stock had its “buy” rating reiterated by research analysts at Goldman Sachs Group Inc. in a research note issued to investors on Friday.
A number of other equities research analysts have also issued reports on FSLR. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $54.99 price target for the company. in a research note on Wednesday, August 3rd. JMP Securities set a $32.00 price target on First Solar and gave the stock a “sell” rating in a research note on Saturday, September 17th. Janney Montgomery Scott reissued a “buy” rating and set a $68.00 price target (down from $89.00) on shares of First Solar in a research note on Friday, August 5th. S&P Equity Research lowered First Solar from a “buy” rating to a “hold” rating and decreased their price target for the stock from $75.00 to $55.00 in a research note on Friday, August 5th. Finally, Barclays PLC decreased their price target on First Solar from $68.00 to $50.00 and set an “overweight” rating for the company in a research note on Wednesday, August 10th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $56.83.
Shares of First Solar (NASDAQ:FSLR) opened at 39.75 on Friday. The stock has a 50 day moving average price of $37.43 and a 200-day moving average price of $48.36. The stock has a market capitalization of $4.07 billion, a PE ratio of 5.85 and a beta of 1.54. First Solar has a 1-year low of $33.74 and a 1-year high of $74.29.
First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to analysts’ expectations of $862.68 million. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The company’s quarterly revenue was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.93 EPS. On average, 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 the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $44.54, for a total value of $5,957,714.94. Following the completion of the transaction, the insider now owns 151,471 shares of the company’s stock, valued at approximately $6,746,518.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director James Alton Hughes sold 180,448 shares of the company’s 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 completion of the transaction, the director now directly 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 corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the company. Deane Retirement Strategies Inc. acquired a new position in First Solar during the third quarter worth $1,554,000. BNP Paribas Arbitrage SA boosted its position 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 worth $2,974,000 after buying an additional 13,731 shares during the last quarter. Kentucky Retirement Systems purchased a new position in shares of First Solar during the second quarter worth approximately $316,000. Northwestern Mutual Investment Management Company LLC boosted its position 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 worth $142,000 after buying an additional 11 shares during the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of First Solar during the second quarter worth approximately $501,000. 57.50% of the stock is owned by institutional investors.
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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