Several other analysts also recently issued reports on FSLR. Goldman Sachs Group upgraded First Solar to a buy rating and set a $57.00 price objective on the stock in a research report on Wednesday, January 16th. Roth Capital reduced their price objective on First Solar to $60.00 and set a buy rating on the stock in a research report on Friday, February 15th. Zacks Investment Research downgraded First Solar from a hold rating to a sell rating in a research report on Friday, February 22nd. JPMorgan Chase & Co. reduced their price objective on First Solar to $70.00 and set an overweight rating on the stock in a research report on Friday, February 22nd. Finally, Bank of America restated a buy rating and issued a $60.00 price objective on shares of First Solar in a research report on Tuesday, February 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus price target of $63.85.
Shares of NASDAQ:FSLR opened at $58.38 on Tuesday. The company has a current ratio of 4.38, a quick ratio of 3.83 and a debt-to-equity ratio of 0.11. First Solar has a 52-week low of $36.51 and a 52-week high of $71.87. The firm has a market capitalization of $6.15 billion, a PE ratio of 42.93, a P/E/G ratio of 1.07 and a beta of 1.32.
First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.12) by ($0.52). First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The company had revenue of $532.00 million during the quarter, compared to analysts’ expectations of $596.32 million. During the same quarter in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, equities analysts anticipate that First Solar will post 2.41 EPS for the current fiscal year.
In related news, EVP Paul J. Kaleta sold 21,552 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.06, for a total transaction of $1,294,413.12. Following the transaction, the executive vice president now directly owns 21,573 shares in the company, valued at $1,295,674.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 33,371 shares of the stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $60.00, for a total value of $2,002,260.00. Following the transaction, the chief executive officer now owns 152,510 shares in the company, valued at $9,150,600. The disclosure for this sale can be found here. Insiders have sold 117,572 shares of company stock worth $6,997,116 over the last quarter. 0.72% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Lombard Odier Asset Management USA Corp acquired a new stake in shares of First Solar in the first quarter valued at about $4,491,000. Slow Capital Inc. grew its stake in shares of First Solar by 53.2% in the first quarter. Slow Capital Inc. now owns 8,636 shares of the solar cell manufacturer’s stock valued at $456,000 after buying an additional 2,998 shares in the last quarter. FMR LLC grew its stake in shares of First Solar by 10,102.9% in the first quarter. FMR LLC now owns 97,744 shares of the solar cell manufacturer’s stock valued at $5,164,000 after buying an additional 96,786 shares in the last quarter. Electron Capital Partners LLC grew its stake in shares of First Solar by 60.2% in the first quarter. Electron Capital Partners LLC now owns 809,163 shares of the solar cell manufacturer’s stock valued at $42,756,000 after buying an additional 303,982 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. grew its stake in shares of First Solar by 22.8% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 12,964 shares of the solar cell manufacturer’s stock valued at $687,000 after buying an additional 2,404 shares in the last quarter. Hedge funds and other institutional investors own 61.50% of the company’s stock.
First Solar Company Profile
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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