First Solar (NASDAQ:FSLR) Upgraded by Evercore ISI to “Outperform”

Evercore ISI upgraded shares of First Solar (NASDAQ:FSLR) from an in-line rating to an outperform rating in a research report report published on Tuesday morning, Marketbeat Ratings reports. They currently have $227.00 target price on the solar cell manufacturer’s stock.

A number of other analysts also recently weighed in on FSLR. DZ Bank began coverage on First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 price objective for the company. Wells Fargo & Company raised First Solar from an equal weight rating to an overweight rating and lifted their price objective for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Royal Bank of Canada reissued an outperform rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Oppenheimer restated an outperform rating and issued a $269.00 price target on shares of First Solar in a research report on Wednesday, April 17th. Finally, Mizuho increased their price objective on shares of First Solar from $188.00 to $196.00 and gave the stock a buy rating in a research report on Wednesday, January 3rd. Three research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, First Solar currently has a consensus rating of Moderate Buy and an average price target of $231.36.

First Solar Stock Up 2.2 %

FSLR stock opened at $180.10 on Tuesday. The stock has a market capitalization of $19.28 billion, a P/E ratio of 23.27, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $162.27 and a 200-day moving average price of $156.68. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.07) EPS. As a group, equities research analysts anticipate that First Solar will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the completion of the sale, the chief technology officer now owns 12,536 shares in the company, valued at approximately $2,193,800. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar during the first quarter valued at approximately $25,000. First Pacific Financial bought a new position in First Solar in the 3rd quarter valued at $27,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management bought a new stake in shares of First Solar during the 3rd quarter worth $29,000. Finally, Baystate Wealth Management LLC purchased a new position in shares of First Solar in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.