Analysts Set First Solar, Inc. (FSLR) PT at $67.55

Shares of First Solar, Inc. (NASDAQ:FSLR) have received an average rating of “Buy” from the nineteen research firms that are presently covering the company, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $67.55.

Several brokerages have recently commented on FSLR. BidaskClub raised First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a research note on Friday, February 22nd. ValuEngine raised First Solar from a “hold” rating to a “buy” rating in a research note on Wednesday, May 1st. Argus increased their price objective on First Solar to $66.00 and gave the stock an “average” rating in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $72.00 price objective (up from $70.00) on shares of First Solar in a research note on Monday, May 6th.

In related news, insider Georges Antoun sold 8,476 shares of the stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $57.85, for a total transaction of $490,336.60. Following the completion of the sale, the insider now directly owns 97,546 shares of the company’s stock, valued at $5,643,036.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 1,254 shares of the stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $51.30, for a total value of $64,330.20. Following the sale, the chief financial officer now directly owns 8,887 shares of the company’s stock, valued at $455,903.10. The disclosure for this sale can be found here. Insiders have sold 118,867 shares of company stock valued at $7,105,192 over the last ninety days. 0.72% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. JOYN Advisors Inc. increased its position in First Solar by 130.2% in the fourth quarter. JOYN Advisors Inc. now owns 603 shares of the solar cell manufacturer’s stock worth $26,000 after buying an additional 341 shares during the last quarter. Manchester Capital Management LLC purchased a new stake in First Solar in the first quarter worth $27,000. Oregon Public Employees Retirement Fund increased its position in First Solar by 3,850.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,267,749 shares of the solar cell manufacturer’s stock worth $30,000 after buying an additional 1,235,661 shares during the last quarter. TCG Advisors LP purchased a new stake in First Solar in the first quarter worth $32,000. Finally, ETF Managers Group LLC increased its position in First Solar by 15.8% in the fourth quarter. ETF Managers Group LLC now owns 1,828 shares of the solar cell manufacturer’s stock worth $78,000 after buying an additional 249 shares during the last quarter. 61.54% of the stock is owned by institutional investors.

Shares of First Solar stock traded up $1.25 on Tuesday, hitting $62.67. The company had a trading volume of 382,244 shares, compared to its average volume of 1,036,040. The company has a market cap of $6.42 billion, a PE ratio of 46.08, a price-to-earnings-growth ratio of 1.09 and a beta of 1.31. First Solar has a 1 year low of $36.51 and a 1 year high of $63.82. The company has a quick ratio of 3.83, a current ratio of 4.38 and a debt-to-equity ratio of 0.11.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) EPS for the quarter, missing the consensus estimate of ($0.12) by ($0.52). The company had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $596.32 million. First Solar had a negative return on equity of 0.12% and a negative net margin of 0.28%. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. During the same period last year, the company earned $0.78 earnings per share. As a group, research analysts anticipate that First Solar will post 2.41 EPS for the current year.

About First Solar

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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