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

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned a consensus rating of “Moderate Buy” from the thirty-two analysts that are covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $247.4007.

A number of equities analysts have recently weighed in on FSLR shares. Royal Bank Of Canada cut their price objective on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. DZ Bank raised shares of First Solar to a “strong sell” rating in a research report on Thursday, February 26th. TD Cowen cut their price objective on shares of First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Evercore boosted their price objective on shares of First Solar from $212.00 to $219.00 in a research report on Monday, May 4th. Finally, Needham & Company LLC boosted their price objective on shares of First Solar from $286.00 to $303.00 and gave the company a “buy” rating in a research report on Monday, February 23rd.

Insider Activity

In related news, CFO Alexander R. Bradley sold 14,106 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the completion of the transaction, the chief financial officer owned 30,000 shares of the company’s stock, valued at approximately $5,999,100. This represents a 31.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 3,640 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $196.95, for a total transaction of $716,898.00. Following the transaction, the chief technology officer directly owned 8,037 shares of the company’s stock, valued at $1,582,887.15. This trade represents a 31.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 80,940 shares of company stock valued at $17,546,912 in the last ninety days. 0.39% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Joule Financial LLC acquired a new stake in shares of First Solar in the third quarter worth $950,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of First Solar by 22.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after acquiring an additional 13,904 shares in the last quarter. Belpointe Asset Management LLC acquired a new stake in shares of First Solar in the third quarter worth $1,193,000. National Pension Service increased its position in shares of First Solar by 24.1% in the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer’s stock worth $9,134,000 after acquiring an additional 8,036 shares in the last quarter. Finally, Candriam S.C.A. increased its position in shares of First Solar by 70.2% in the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock worth $33,163,000 after acquiring an additional 62,048 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

NASDAQ:FSLR opened at $303.00 on Thursday. The firm has a 50 day simple moving average of $215.51 and a 200-day simple moving average of $231.65. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The firm has a market cap of $32.56 billion, a PE ratio of 19.57, a P/E/G ratio of 0.68 and a beta of 1.70. First Solar has a 1-year low of $135.50 and a 1-year high of $313.75.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.95 earnings per share. On average, equities analysts expect that First Solar will post 17.64 EPS 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.