First Solar, Inc. (NASDAQ:FSLR) has been assigned a $47.00 price target by Deutsche Bank AG in a note issued to investors on Wednesday. The firm currently has a “hold” rating on the solar cell manufacturer’s stock. Deutsche Bank AG’s price target points to a potential upside of 2.91% from the company’s previous close.

FSLR has been the topic of several other reports. Axiom Securities upgraded First Solar from a “sell” rating to a “hold” rating and reduced their price objective for the company from $30.32 to $21.00 in a research report on Wednesday, May 3rd. UBS AG upgraded First Solar from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. JPMorgan Chase & Co. downgraded First Solar to a “hold” rating and set a $38.00 price objective on the stock. in a research report on Saturday, March 25th. Morgan Stanley restated an “equal weight” rating on shares of First Solar in a research report on Tuesday, July 11th. Finally, Robert W. Baird restated an “outperform” rating on shares of First Solar in a research report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, twenty have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $43.42.

Shares of First Solar (NASDAQ:FSLR) traded up 3.75% during mid-day trading on Wednesday, hitting $45.67. The company’s stock had a trading volume of 4,849,125 shares. First Solar has a 12-month low of $25.56 and a 12-month high of $49.50. The company’s market cap is $4.76 billion. The stock has a 50-day moving average of $39.01 and a 200-day moving average of $34.08.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.13) by $0.38. First Solar had a positive return on equity of 6.71% and a negative net margin of 18.14%. The business had revenue of $891.79 million for the quarter, compared to the consensus estimate of $699.15 million. On average, equities research analysts forecast that First Solar will post $0.54 EPS for the current year.

COPYRIGHT VIOLATION WARNING: “First Solar, Inc. (NASDAQ:FSLR) Given a $47.00 Price Target at Deutsche Bank AG” was first reported by American Banking News and is the property of of American Banking News. If you are viewing this news story on another publication, it was stolen and reposted in violation of U.S. & international copyright & trademark law. The correct version of this news story can be accessed at https://www.americanbankingnews.com/2017/07/19/first-solar-inc-nasdaqfslr-given-a-47-00-price-target-at-deutsche-bank-ag.html.

In related news, insider Bryan Robert Schumaker sold 2,747 shares of the stock in a transaction dated Wednesday, May 3rd. The stock was sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the transaction, the insider now owns 1,235 shares of the company’s stock, valued at $43,225. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director J Thomas Presby purchased 4,000 shares of First Solar stock in a transaction that occurred on Thursday, May 11th. The stock was acquired at an average cost of $36.89 per share, with a total value of $147,560.00. Following the acquisition, the director now directly owns 17,958 shares of the company’s stock, valued at approximately $662,470.62. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Personal Capital Advisors Corp increased its position in shares of 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 in the last quarter. Norges Bank acquired a new position in shares of First Solar during the fourth quarter worth approximately $3,470,000. Russell Investments Group Ltd. acquired a new position in shares of First Solar during the fourth quarter worth approximately $872,000. Baird Financial Group Inc. increased its position in shares of 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 in the last quarter. Finally, Ameritas Investment Partners Inc. acquired a new position in shares of First Solar during the first quarter worth approximately $623,000. 60.37% of the stock is owned by hedge funds and other 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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.