Morgan Stanley Reiterates “Equal Weight” Rating for First Solar, Inc. (FSLR)
First Solar, Inc. (NASDAQ:FSLR)‘s stock had its “equal weight” rating reaffirmed by stock analysts at Morgan Stanley in a report issued on Tuesday, StockTargetPrices.com reports.
Other analysts also recently issued research reports about the stock. J P Morgan Chase & Co downgraded shares of First Solar to a “hold” rating and set a $38.00 target price on the stock. in a research report on Saturday, March 25th. JMP Securities raised shares of First Solar from an “underperform” rating to a “market perform” rating and dropped their target price for the stock from $29.40 to $28.99 in a research report on Thursday, April 27th. They noted that the move was a valuation call. Robert W. Baird reissued an “outperform” rating on shares of First Solar in a research report on Wednesday, May 3rd. Deutsche Bank AG reissued a “hold” rating and set a $36.00 target price (up previously from $32.00) on shares of First Solar in a research report on Wednesday, May 3rd. Finally, BidaskClub raised shares of First Solar from a “hold” rating to a “buy” rating in a research report on Wednesday, June 28th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating and eight have issued a buy rating to the stock. First Solar has a consensus rating of “Hold” and an average target price of $42.08.
First Solar (NASDAQ:FSLR) opened at 39.83 on Tuesday. The company’s market cap is $4.15 billion. The company’s 50-day moving average is $37.42 and its 200-day moving average is $33.34. First Solar has a 12 month low of $25.56 and a 12 month high of $49.50.
First Solar (NASDAQ:FSLR) last released its 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 company had revenue of $891.79 million for the quarter, compared to the consensus estimate of $699.15 million. First Solar had a negative net margin of 18.14% and a positive return on equity of 6.71%. On average, equities research analysts expect that First Solar will post $0.52 EPS for the current fiscal year.
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In related news, insider Bryan Robert Schumaker sold 2,747 shares of the business’s stock in a transaction on Wednesday, May 3rd. The shares were sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the sale, the insider now owns 1,235 shares of the company’s stock, valued at approximately $43,225. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director J Thomas Presby purchased 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 11th. The stock was bought at an average cost of $36.89 per share, with a total value of $147,560.00. Following the acquisition, the director now owns 17,958 shares in the company, valued at approximately $662,470.62. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by insiders.
A number of large investors have recently modified their holdings of FSLR. Personal Capital Advisors Corp raised its stake in First Solar by 33.4% in the first quarter. Personal Capital Advisors Corp now owns 331,437 shares of the solar cell manufacturer’s stock worth $9,290,000 after buying an additional 82,983 shares during the last quarter. Norges Bank acquired a new stake in First Solar during the fourth quarter worth about $3,470,000. Russell Investments Group Ltd. acquired a new stake in First Solar during the fourth quarter worth about $872,000. Baird Financial Group Inc. raised its stake in First Solar by 86.9% in the first quarter. Baird Financial Group Inc. now owns 12,890 shares of the solar cell manufacturer’s stock worth $349,000 after buying an additional 5,995 shares during the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new stake in First Solar during the first quarter worth about $623,000. 60.45% of the stock is owned by institutional investors.
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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