First Solar (NASDAQ:FSLR) Receives “Outperform” Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have a $269.00 target price on the solar cell manufacturer’s stock.

FSLR has been the subject of several other research reports. Royal Bank of Canada reiterated an outperform rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. DZ Bank began coverage on First Solar in a research report on Wednesday. They issued a buy rating and a $205.00 price target for the company. Wells Fargo & Company lowered First Solar from an overweight rating to an equal weight rating and dropped their price target for the stock from $215.00 to $187.00 in a research report on Monday, January 8th. Janney Montgomery Scott assumed coverage on First Solar in a research report on Friday, April 12th. They issued a buy rating and a $236.00 price target for the company. Finally, Bank of America boosted their target price on First Solar from $187.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Four research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $227.04.

First Solar Trading Up 2.8 %

Shares of FSLR stock opened at $178.01 on Wednesday. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. 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 stock’s 50-day moving average price is $160.24 and its 200-day moving average price is $155.92. The stock has a market capitalization of $19.05 billion, a price-to-earnings ratio of 23.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping 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 revenue was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. Equities research analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Activity

In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were 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 owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,620 shares of company stock valued at $4,269,540. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of large investors have recently made changes to their positions in FSLR. Raymond James & Associates increased its position in shares of First Solar by 160.6% during the first quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after purchasing an additional 16,515 shares in the last quarter. American Century Companies Inc. increased its position in shares of First Solar by 13.8% during the first quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after purchasing an additional 1,030 shares in the last quarter. Cibc World Market Inc. increased its position in shares of First Solar by 71.0% during the first quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after purchasing an additional 3,100 shares in the last quarter. Blair William & Co. IL increased its position in shares of First Solar by 1.8% during the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after purchasing an additional 890 shares in the last quarter. Finally, Sei Investments Co. increased its position in shares of First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after purchasing an additional 2,691 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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.