First Solar, Inc. (FSLR) Receives Hold Rating from Deutsche Bank AG
First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “hold” rating reissued by equities research analysts at Deutsche Bank AG in a research note issued on Sunday. They currently have a $38.00 price objective on the solar cell manufacturer’s stock, up from their prior price objective of $36.00. Deutsche Bank AG’s price objective suggests a potential upside of 3.15% from the stock’s previous close.
Several other research analysts also recently issued reports on FSLR. Vetr downgraded 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. Robert W. Baird downgraded First Solar from an “outperform” rating to a “neutral” rating and lifted their price target for the stock from $35.00 to $38.00 in a research note on Thursday, May 18th. Needham & Company LLC reaffirmed a “hold” rating on shares of First Solar in a research note on Wednesday, February 22nd. TheStreet downgraded First Solar from a “c” rating to a “d+” rating in a research note on Tuesday, February 21st. Finally, Goldman Sachs Group Inc reaffirmed a “neutral” rating on shares of First Solar in a research note on Friday, February 10th. Two equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and six have given a buy rating to the company’s stock. First Solar currently has a consensus rating of “Hold” and an average price target of $42.16.
First Solar (NASDAQ:FSLR) opened at 36.84 on Friday. The firm’s market capitalization is $3.84 billion. First Solar has a 52-week low of $25.56 and a 52-week high of $51.30. The firm’s 50-day moving average is $32.14 and its 200-day moving average is $32.29.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) 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 return on equity of 9.58% and a net margin of 14.72%. On average, analysts anticipate that First Solar will post $0.54 earnings per share for the current year.
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In other news, CFO Alexander R. Bradley sold 905 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $32.56, for a total transaction of $29,466.80. Following the completion of the sale, the chief financial officer now owns 571 shares in the company, valued at approximately $18,591.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director J Thomas Presby bought 4,000 shares of the firm’s stock in a transaction dated Thursday, May 11th. The shares were purchased at an average price of $36.89 per share, with a total value of $147,560.00. Following the acquisition, the director now directly owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. Insiders have sold a total of 5,358 shares of company stock valued at $180,306 in the last quarter. Company insiders own 0.40% of the company’s stock.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock worth $187,601,000 after buying an additional 6,836,843 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of First Solar by 5,075.3% in the fourth quarter. Franklin Resources Inc. now owns 6,269,614 shares of the solar cell manufacturer’s stock worth $201,193,000 after buying an additional 6,148,469 shares during the last quarter. Capital World Investors boosted its stake in shares of First Solar by 147.0% in the third quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after buying an additional 4,225,000 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock worth $82,356,000 after buying an additional 679,898 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its stake in shares of First Solar by 42.5% in the fourth quarter. Thompson Siegel & Walmsley LLC now owns 1,925,634 shares of the solar cell manufacturer’s stock worth $61,794,000 after buying an additional 574,684 shares during the last quarter. Institutional investors and hedge funds own 58.02% of the company’s stock.
About First Solar
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.
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