First Solar, Inc. (NASDAQ:FSLR) was upgraded by stock analysts at JMP Securities from a “market perform” rating to an “outperform” rating in a research note issued on Wednesday, The Fly reports.

FSLR has been the subject of several other reports. Vetr downgraded shares of First Solar from a “buy” rating to a “hold” rating and set a $33.62 price target for the company. in a research note on Tuesday, March 7th. Axiom Securities raised shares of First Solar from a “sell” rating to a “hold” rating and lowered their price target for the stock from $30.32 to $21.00 in a research note on Wednesday, May 3rd. JPMorgan Chase & Co. downgraded shares of First Solar to a “hold” rating and set a $38.00 price objective for the company. in a research note on Saturday, March 25th. Credit Suisse Group AG downgraded shares of First Solar from a “neutral” rating to an “underperform” rating and set a $29.00 price objective for the company. in a research note on Wednesday, February 22nd. Finally, Robert W. Baird reaffirmed an “outperform” rating on shares of First Solar in a research note on Wednesday, May 3rd. Two analysts have rated the stock with a sell rating, eighteen have issued a hold rating and six have assigned a buy rating to the company. First Solar presently has an average rating of “Hold” and an average price target of $41.08.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Shares of First Solar (NASDAQ:FSLR) traded up 6.66% during mid-day trading on Wednesday, reaching $38.90. The company’s stock had a trading volume of 5,119,403 shares. The firm’s market cap is $4.06 billion. The company’s 50-day moving average is $31.18 and its 200 day moving average is $32.18. First Solar has a 12 month low of $25.56 and a 12 month high of $51.33.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.38. The business had revenue of $891.79 million during the quarter, compared to the consensus estimate of $699.15 million. First Solar had a net margin of 14.72% and a return on equity of 9.58%. On average, equities analysts anticipate that First Solar will post $0.54 EPS for the current year.

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In other news, insider Bryan Robert Schumaker sold 2,747 shares of the stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $35.00, for a total transaction of $96,145.00. Following the sale, the insider now owns 1,235 shares in the company, valued at $43,225. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Alexander R. Bradley sold 905 shares of the stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $32.56, for a total transaction of $29,466.80. Following the sale, the chief financial officer now owns 571 shares in the company, valued at approximately $18,591.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 13,850 shares of company stock worth $466,402. Corporate insiders own 0.40% of the company’s stock.

Several large investors have recently bought and sold shares of FSLR. United Services Automobile Association boosted its stake in First Solar by 93.0% in the third quarter. United Services Automobile Association now owns 163,568 shares of the solar cell manufacturer’s stock worth $6,459,000 after buying an additional 78,831 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Solar by 1.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,339 shares of the solar cell manufacturer’s stock worth $764,000 after buying an additional 285 shares during the last quarter. Hartford Investment Management Co. boosted its stake in First Solar by 15.6% in the third quarter. Hartford Investment Management Co. now owns 20,829 shares of the solar cell manufacturer’s stock worth $823,000 after buying an additional 2,817 shares during the last quarter. Commonwealth Bank of Australia boosted its stake in First Solar by 10.7% in the third quarter. Commonwealth Bank of Australia now owns 9,313 shares of the solar cell manufacturer’s stock worth $367,000 after buying an additional 900 shares during the last quarter. Finally, BlackRock Advisors LLC boosted its stake in First Solar by 1.3% in the third quarter. BlackRock Advisors LLC now owns 31,564 shares of the solar cell manufacturer’s stock worth $1,246,000 after buying an additional 397 shares during the last quarter. Hedge funds and other institutional investors own 58.02% of the company’s stock.

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 a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

12 Month Chart for NASDAQ:FSLR

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