First Solar (NASDAQ:FSLR) Trading 1.3% Higher – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR) shot up 1.3% on Friday . The stock traded as high as $130.16 and last traded at $130.08. 650,093 shares traded hands during trading, a decline of 75% from the average session volume of 2,550,913 shares. The stock had previously closed at $128.46.

Analyst Ratings Changes

Several research firms have recently weighed in on FSLR. Morgan Stanley lowered their price target on First Solar from $297.00 to $238.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a report on Wednesday, February 26th. Seaport Res Ptn raised First Solar from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Robert W. Baird lowered their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. Finally, UBS Group lowered their price target on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus price target of $262.08.

First Solar Trading Up 2.2 %

The stock has a market cap of $14.06 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The stock has a 50-day moving average price of $156.26 and a two-hundred day moving average price of $188.05. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Sell-side analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the completion of the transaction, the insider now owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the completion of the transaction, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Prospera Financial Services Inc lifted its stake in First Solar by 52.5% in the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock worth $508,000 after purchasing an additional 701 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in First Solar by 5.3% in the third quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock worth $3,847,000 after purchasing an additional 777 shares during the last quarter. Jennison Associates LLC lifted its stake in First Solar by 32.7% in the third quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer’s stock worth $12,045,000 after purchasing an additional 11,894 shares during the last quarter. Advisors Asset Management Inc. lifted its stake in First Solar by 8.6% in the third quarter. Advisors Asset Management Inc. now owns 5,718 shares of the solar cell manufacturer’s stock worth $1,426,000 after purchasing an additional 452 shares during the last quarter. Finally, Moors & Cabot Inc. lifted its stake in First Solar by 17.0% in the third quarter. Moors & Cabot Inc. now owns 1,313 shares of the solar cell manufacturer’s stock worth $328,000 after purchasing an additional 191 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

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.