First Solar, Inc. (NASDAQ:FSLR) Given a $47.00 Price Target at Deutsche Bank AG
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.
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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.
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