First Solar, Inc. (FSLR) Given Average Rating of “Hold” by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average rating of “Hold” by the twenty-four brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation, ten have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $67.93.

FSLR has been the subject of several research reports. Zacks Investment Research raised First Solar from a “hold” rating to a “buy” rating and set a $76.00 price target for the company in a research note on Tuesday, January 2nd. Vetr raised First Solar from a “sell” rating to a “hold” rating and set a $66.50 price target for the company in a research note on Thursday, December 14th. Guggenheim reaffirmed a “neutral” rating on shares of First Solar in a research note on Thursday, January 18th. They noted that the move was a valuation call. Goldman Sachs Group reaffirmed a “neutral” rating and set a $65.00 price target (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Finally, Cowen reaffirmed an “outperform” rating and set a $77.00 price target (up previously from $60.00) on shares of First Solar in a research note on Wednesday, December 6th.

In other news, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the completion of the transaction, the chief operating officer now owns 10,424 shares of the company’s stock, valued at approximately $707,059.92. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of the company’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total transaction of $790,557.04. Following the transaction, the insider now directly owns 9,227 shares of the company’s stock, valued at approximately $646,443.62. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 46,858 shares of company stock valued at $3,134,015. Corporate insiders own 0.58% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Thompson Davis & CO. Inc. acquired a new position in shares of First Solar during the 4th quarter valued at about $101,000. NuWave Investment Management LLC purchased a new stake in shares of First Solar during the 4th quarter worth about $162,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 1,716 shares during the period. Cigna Investments Inc. New purchased a new stake in shares of First Solar during the 4th quarter worth about $201,000. Finally, WealthTrust Fairport LLC purchased a new stake in shares of First Solar during the 4th quarter worth about $203,000. 51.00% of the stock is owned by institutional investors.

First Solar (NASDAQ FSLR) opened at $62.52 on Tuesday. The stock has a market capitalization of $6,530.00, a price-to-earnings ratio of -15.03 and a beta of 2.08. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a one year low of $25.56 and a one year high of $76.61.

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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.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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