First Solar, Inc. (NASDAQ:FSLR) Receives Consensus Rating of “Moderate Buy” from Analysts

First Solar, Inc. (NASDAQ:FSLR) has received an average rating of “Moderate Buy” from the thirty-two research firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $251.3704.

A number of research firms have issued reports on FSLR. Citigroup reduced their target price on shares of First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a report on Tuesday, April 21st. Argus increased their target price on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Guggenheim increased their target price on shares of First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. UBS Group decreased their price target on shares of First Solar from $300.00 to $290.00 and set a “buy” rating for the company in a research note on Monday, May 4th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating and decreased their price target for the stock from $300.00 to $245.00 in a research note on Wednesday, February 25th.

First Solar Price Performance

Shares of FSLR opened at $273.67 on Thursday. The firm has a 50-day simple moving average of $209.21 and a two-hundred day simple moving average of $230.88. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. First Solar has a 1-year low of $135.50 and a 1-year high of $285.99. The stock has a market cap of $29.41 billion, a PE ratio of 17.68, a P/E/G ratio of 0.59 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, topping the consensus estimate of $2.87 by $0.35. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.95 EPS. As a group, analysts forecast that First Solar will post 17.64 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 498 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total transaction of $107,383.74. Following the completion of the sale, the chief financial officer owned 30,712 shares in the company, valued at approximately $6,622,428.56. The trade was a 1.60% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Koralewski sold 215 shares of the business’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total transaction of $46,360.45. Following the sale, the insider owned 14,642 shares of the company’s stock, valued at $3,157,254.46. This represents a 1.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 97,827 shares of company stock worth $20,006,930. 0.39% of the stock is owned by insiders.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently bought and sold shares of the business. Aventura Private Wealth LLC purchased a new stake in First Solar in the 4th quarter valued at $25,000. Commonwealth Retirement Investments LLC acquired a new position in First Solar in the 4th quarter valued at $26,000. Reflection Asset Management acquired a new position in First Solar in the 4th quarter valued at $26,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar during the 2nd quarter worth $26,000. Finally, Larson Financial Group LLC grew its stake in shares of First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after purchasing an additional 55 shares during the period. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.