First Solar, Inc. (FSLR) Given Consensus Recommendation of “Hold” by Brokerages
Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average rating of “Hold” from the thirty ratings firms that are currently covering the company, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have given a buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $44.41.
A number of research analysts have issued reports on FSLR shares. Cowen and Company set a $40.00 price target on First Solar and gave the company a “buy” rating in a report on Monday, July 10th. Axiom Securities reissued a “buy” rating on shares of First Solar in a report on Thursday, August 10th. Credit Suisse Group raised First Solar from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $25.00 to $31.00 in a report on Monday, May 1st. Zacks Investment Research cut First Solar from a “hold” rating to a “sell” rating in a research report on Tuesday, July 4th. Finally, ValuEngine cut First Solar from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.
Shares of First Solar (NASDAQ:FSLR) traded up 1.41% during midday trading on Tuesday, hitting $46.61. 460,882 shares of the stock were exchanged. The firm’s 50-day moving average is $45.31 and its 200 day moving average is $36.42. First Solar has a 52-week low of $25.56 and a 52-week high of $50.21. The firm’s market cap is $4.87 billion.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.04 by $0.60. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The company had revenue of $623 million during the quarter, compared to the consensus estimate of $591.55 million. During the same period in the previous year, the company posted $0.87 earnings per share. First Solar’s revenue for the quarter was down 38.7% on a year-over-year basis. On average, analysts forecast that First Solar will post $2.11 earnings per share for the current year.
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In other news, EVP Paul J. Kaleta sold 23,696 shares of the company’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $49.69, for a total value of $1,177,454.24. Following the transaction, the executive vice president now owns 14,510 shares of the company’s stock, valued at approximately $721,001.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,909 shares of company stock worth $4,705,246. Corporate insiders own 0.58% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Clear Harbor Asset Management LLC raised its position in shares of First Solar by 0.5% in the second quarter. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer’s stock valued at $716,000 after buying an additional 80 shares during the period. Daiwa Securities Group Inc. raised its position in shares of First Solar by 0.5% in the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock valued at $962,000 after buying an additional 125 shares during the period. Public Employees Retirement Association of Colorado raised its position in shares of First Solar by 1.1% in the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock valued at $602,000 after buying an additional 165 shares during the period. Gargoyle Investment Advisor L.L.C. raised its position in shares of First Solar by 1.2% in the first quarter. Gargoyle Investment Advisor L.L.C. now owns 14,591 shares of the solar cell manufacturer’s stock valued at $396,000 after buying an additional 180 shares during the period. Finally, Intellectus Partners LLC raised its position in shares of First Solar by 1.2% in the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock valued at $696,000 after buying an additional 200 shares during the period. 60.25% of the stock is currently owned by institutional investors and hedge funds.
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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