Roth Capital Increases First Solar, Inc. (NASDAQ:FSLR) Price Target to $55.00
First Solar, Inc. (NASDAQ:FSLR) had its target price lifted by investment analysts at Roth Capital from $40.00 to $55.00 in a research note issued on Wednesday. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. Roth Capital’s target price indicates a potential upside of 20.99% from the company’s current price.
FSLR has been the topic of several other research reports. Needham & Company LLC reiterated a “hold” rating on shares of First Solar in a report on Friday, April 7th. Credit Suisse Group dropped their target price on First Solar from $29.00 to $25.00 and set an “underperform” rating on the stock in a report on Friday, April 7th. Cowen and Company set a $40.00 target price on First Solar and gave the stock a “buy” rating in a report on Monday, July 10th. Axiom Securities upgraded First Solar from a “hold” rating to a “buy” rating and upped their target price for the stock from $45.40 to $51.00 in a report on Wednesday, July 19th. Finally, Zacks Investment Research lowered First Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. One investment analyst has rated the stock with a sell rating, nineteen have issued a hold rating, eight have given a buy rating and two have assigned a strong buy rating to the stock. First Solar has an average rating of “Hold” and a consensus target price of $44.42.
Shares of First Solar (NASDAQ:FSLR) traded down 0.11% during midday trading on Wednesday, reaching $45.41. The company had a trading volume of 875,500 shares. First Solar has a 52-week low of $25.56 and a 52-week high of $49.50. The firm’s market cap is $4.74 billion. The company’s 50-day moving average is $39.62 and its 200-day moving average is $34.34.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.38. The company had revenue of $891.79 million for the quarter, compared to analyst estimates of $699.15 million. First Solar had a positive return on equity of 6.71% and a negative net margin of 18.14%. Equities research analysts expect that First Solar will post $0.59 EPS for the current fiscal year.
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In other First Solar news, Director J Thomas Presby bought 4,000 shares of First Solar stock in a transaction on 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 owns 17,958 shares in the company, valued at approximately $662,470.62. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Bryan Robert Schumaker sold 2,747 shares of the firm’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 directly owns 1,235 shares in the company, valued at approximately $43,225. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
Large investors have recently modified their holdings of the stock. Amica Retiree Medical Trust increased its stake in shares of First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares in the last quarter. Cornerstone Advisors Inc. increased its stake in shares of First Solar by 2,220.9% in the third quarter. Cornerstone Advisors Inc. now owns 2,994 shares of the solar cell manufacturer’s stock worth $118,000 after buying an additional 2,865 shares in the last quarter. Menora Mivtachim Holdings LTD. acquired a new stake in shares of First Solar during the fourth quarter worth $122,000. LS Investment Advisors LLC increased its stake in shares of First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock worth $134,000 after buying an additional 605 shares in the last quarter. Finally, Virtus Investment Advisers Inc. acquired a new stake in shares of First Solar during the third quarter worth $139,000. 60.35% of the stock is currently owned by hedge funds and other institutional investors.
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.
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