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

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average recommendation of “Moderate Buy” from the thirty-three ratings firms that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, eighteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $249.7793.

FSLR has been the topic of several recent research reports. Jefferies Financial Group lowered their price target on shares of First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research note on Tuesday, April 7th. Morgan Stanley decreased their price target on First Solar from $275.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, April 28th. The Goldman Sachs Group raised their target price on shares of First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Wall Street Zen downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Guggenheim increased their price target on shares of First Solar from $269.00 to $279.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st.

Insider Buying and Selling

In other news, insider Kuntal Kumar Verma sold 582 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $250.00, for a total value of $145,500.00. Following the transaction, the insider owned 4,967 shares of the company’s stock, valued at approximately $1,241,750. This represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Mark R. Widmar sold 9,926 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $233.21, for a total value of $2,314,842.46. Following the completion of the sale, the chief executive officer owned 95,148 shares in the company, valued at $22,189,465.08. This trade represents a 9.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 32,466 shares of company stock worth $8,014,105 over the last three months. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the business. Apollon Wealth Management LLC lifted its holdings in shares of First Solar by 1.2% in the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after purchasing an additional 44 shares in the last quarter. Root Financial Partners LLC lifted its holdings in shares of First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after purchasing an additional 45 shares in the last quarter. FIL Ltd lifted its holdings in shares of First Solar by 6.9% in the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after purchasing an additional 46 shares in the last quarter. Fielder Capital Group LLC grew its position in shares of First Solar by 4.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock valued at $312,000 after purchasing an additional 47 shares during the last quarter. Finally, Burford Brothers Inc. grew its position in shares of First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock valued at $4,984,000 after purchasing an additional 48 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR opened at $257.70 on Monday. The stock’s 50-day moving average price is $238.53 and its 200 day moving average price is $233.23. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The firm has a market capitalization of $27.69 billion, a price-to-earnings ratio of 16.65, a P/E/G ratio of 0.57 and a beta of 1.70. First Solar has a 12-month low of $139.26 and a 12-month high of $320.95.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.03 billion. During the same quarter last year, the company earned $1.95 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. As a group, research analysts predict that First Solar will post 17.61 earnings per share for the current year.

About First Solar

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.