First Solar Inc. (NASDAQ:FSLR) Given Consensus Rating of “Hold” by Analysts
First Solar Inc. (NASDAQ:FSLR) has been assigned a consensus rating of “Hold” from the twenty-eight research firms that are covering the stock. One research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and twelve have assigned a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $56.40.
Several research firms have issued reports on FSLR. Goldman Sachs Group Inc. reissued a “buy” rating on shares of First Solar in a research note on Friday. Vetr downgraded First Solar from a “strong-buy” rating to a “buy” rating and set a $43.85 target price on the stock. in a research report on Thursday. Williams Capital began coverage on First Solar in a research report on Friday, September 30th. They issued a “buy” rating and a $50.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $53.00 target price (down previously from $65.00) on shares of First Solar in a research report on Wednesday, September 28th. Finally, JMP Securities set a $32.00 target price on First Solar and gave the company a “sell” rating in a research report on Saturday, September 17th.
In other First Solar news, EVP Christopher Bueter sold 29,384 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $44.23, for a total transaction of $1,299,654.32. Following the completion of the transaction, the executive vice president now directly owns 17,718 shares in the company, valued at $783,667.14. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Philip Dejong sold 67,251 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the transaction, the chief operating officer now owns 45,499 shares of the company’s stock, valued at $2,014,695.72. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
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A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. Deane Retirement Strategies Inc. purchased a new position in shares of First Solar during the third quarter valued at approximately $1,554,000. BNP Paribas Arbitrage SA increased 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 valued at $2,974,000 after buying an additional 13,731 shares in the last quarter. Kentucky Retirement Systems purchased a new position in shares of First Solar during the second quarter valued at approximately $316,000. Northwestern Mutual Investment Management Company LLC increased 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 valued at $142,000 after buying an additional 11 shares in the last quarter. Finally, Mason Street Advisors LLC purchased a new position in shares of First Solar during the second quarter valued at approximately $501,000. Institutional investors and hedge funds own 57.50% of the company’s stock.
Shares of First Solar (NASDAQ:FSLR) traded down 5.2133% during mid-day trading on Friday, reaching $37.6777. The company had a trading volume of 2,884,658 shares. The firm’s 50-day moving average is $37.43 and its 200 day moving average is $48.36. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of 5.5482 and a beta of 1.54. First Solar has a 12 month low of $33.74 and a 12 month high of $74.29.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.32. First Solar had a return on equity of 13.78% and a net margin of 17.45%. The firm had revenue of $934.40 million for the quarter, compared to the consensus estimate of $862.68 million. During the same quarter last year, the business posted $0.93 EPS. The company’s revenue for the quarter was up 4.2% on a year-over-year basis. On average, equities research analysts predict that First Solar will post $4.25 earnings per share for the current year.
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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