First Solar, Inc. (NASDAQ:FSLR) Given Consensus Rating of “Buy” by Brokerages

First Solar, Inc. (NASDAQ:FSLR) has been given an average rating of “Buy” by the eighteen analysts that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $67.55.

A number of brokerages have recently weighed in on FSLR. Goldman Sachs Group set a $75.00 price objective on shares of First Solar and gave the company a “buy” rating in a report on Wednesday, April 10th. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a report on Wednesday, May 1st. Argus raised their price objective on shares of First Solar to $66.00 and gave the company an “average” rating in a report on Friday, May 3rd. BidaskClub upgraded shares of First Solar from a “hold” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Roth Capital set a $75.00 price objective on shares of First Solar and gave the company a “buy” rating in a report on Monday, April 22nd.

Shares of FSLR stock opened at $65.68 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 4.38 and a quick ratio of 3.83. First Solar has a 52 week low of $36.51 and a 52 week high of $66.05. The stock has a market cap of $6.89 billion, a PE ratio of 48.29, a PEG ratio of 1.12 and a beta of 1.31. The firm has a 50 day simple moving average of $60.57.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The business had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $596.32 million. During the same period in the prior year, the business earned $0.78 EPS. The business’s quarterly revenue was down 6.2% on a year-over-year basis. On average, sell-side analysts predict that First Solar will post 2.41 earnings per share for the current fiscal year.

In related news, insider Georges Antoun sold 8,476 shares of First Solar stock in a transaction on Friday, May 31st. The shares were sold at an average price of $57.85, for a total transaction of $490,336.60. Following the sale, the insider now directly owns 97,546 shares in the company, valued at approximately $5,643,036.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 33,371 shares of First Solar stock in a transaction on Wednesday, April 10th. The stock was sold at an average price of $60.00, for a total transaction of $2,002,260.00. Following the sale, the chief executive officer now owns 152,510 shares in the company, valued at $9,150,600. The disclosure for this sale can be found here. Insiders sold a total of 144,876 shares of company stock worth $8,705,481 over the last 90 days. Company insiders own 0.72% of the company’s stock.

A number of large investors have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. increased its stake in First Solar by 22.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 687,888 shares of the solar cell manufacturer’s stock valued at $36,349,000 after purchasing an additional 124,767 shares during the period. FMR LLC increased its stake in First Solar by 10,102.9% in the first quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock valued at $5,164,000 after purchasing an additional 96,786 shares during the period. Lombard Odier Asset Management USA Corp acquired a new position in First Solar in the first quarter valued at $4,491,000. Nordea Investment Management AB increased its stake in First Solar by 0.5% in the first quarter. Nordea Investment Management AB now owns 96,850 shares of the solar cell manufacturer’s stock valued at $5,117,000 after purchasing an additional 488 shares during the period. Finally, Electron Capital Partners LLC increased its stake in First Solar by 60.2% in the first quarter. Electron Capital Partners LLC now owns 809,163 shares of the solar cell manufacturer’s stock valued at $42,756,000 after purchasing an additional 303,982 shares during the period. Hedge funds and other institutional investors own 61.30% of the company’s stock.

First Solar Company Profile

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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