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

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus recommendation of “Moderate Buy” by the twenty-two analysts that are covering the company, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and nineteen have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $227.96.

Several research analysts have weighed in on FSLR shares. Janney Montgomery Scott started coverage on First Solar in a research report on Friday. They set a “buy” rating and a $236.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Oppenheimer boosted their price target on First Solar from $268.00 to $269.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Susquehanna reaffirmed a “positive” rating and set a $258.00 price target on shares of First Solar in a research report on Friday, April 5th. Finally, Bank of America boosted their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday.

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a filing with the SEC, which is available through this link. In other First Solar news, CTO Markus Gloeckler sold 679 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the completion of the transaction, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last ninety days. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of First Solar in the fourth quarter valued at about $298,123,000. Voya Investment Management LLC grew its stake in First Solar by 1,371.4% during the fourth quarter. Voya Investment Management LLC now owns 1,818,288 shares of the solar cell manufacturer’s stock worth $313,255,000 after purchasing an additional 1,694,711 shares during the period. Clean Energy Transition LLP grew its stake in First Solar by 948.8% during the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares during the period. Goldman Sachs Group Inc. grew its stake in First Solar by 197.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock worth $111,880,000 after purchasing an additional 887,443 shares during the period. Finally, Samlyn Capital LLC acquired a new stake in First Solar during the first quarter worth approximately $121,554,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Trading Down 1.1 %

NASDAQ:FSLR opened at $182.48 on Friday. The stock has a market capitalization of $19.53 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.32 and a beta of 1.41. The business’s 50-day simple moving average is $158.23 and its 200-day simple moving average is $155.64. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion for 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%. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.07) EPS. Sell-side analysts expect that First Solar will post 13.53 earnings per share for the current fiscal year.

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.