First Solar, Inc. (NASDAQ:FSLR) Receives $266.27 Average PT from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average rating of “Moderate Buy” by the thirty-six analysts that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, twenty-one have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $266.2697.

A number of brokerages have issued reports on FSLR. BMO Capital Markets lowered shares of First Solar from a “hold” rating to a “market perform” rating in a research note on Thursday, August 27th. Mizuho set a $324.00 price objective on shares of First Solar in a report on Thursday, August 13th. Barclays upped their target price on First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a research report on Tuesday, July 14th. TD Cowen restated a “buy” rating on shares of First Solar in a research note on Monday, July 20th. Finally, Robert W. Baird set a $318.00 price target on First Solar and gave the stock an “outperform” rating in a research report on Tuesday, August 11th.

Insider Transactions at First Solar

In other news, insider Michael Koralewski sold 7,000 shares of the firm’s stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares in the company, valued at $1,692,779.42. This trade represents a 47.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason Dymbort sold 3,700 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $249.38, for a total transaction of $922,706.00. Following the transaction, the general counsel directly owned 5,624 shares of the company’s stock, valued at $1,402,513.12. This represents a 39.68% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 15,881 shares of company stock valued at $3,617,086. 0.39% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Root Financial Partners LLC lifted its stake in shares of First Solar by 18.2% in the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after purchasing an additional 45 shares during the period. Fiduciary Financial Group LLC boosted its holdings in First Solar by 2.3% during the second quarter. Fiduciary Financial Group LLC now owns 2,026 shares of the solar cell manufacturer’s stock worth $478,000 after buying an additional 45 shares in the last quarter. FIL Ltd grew its position in First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after buying an additional 46 shares during the period. Fielder Capital Group LLC increased its holdings in First Solar by 4.1% in the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock valued at $312,000 after buying an additional 47 shares in the last quarter. Finally, Burford Brothers Inc. raised its position in shares of First Solar by 0.3% in the fourth quarter. Burford Brothers Inc. now owns 19,080 shares of the solar cell manufacturer’s stock worth $4,984,000 after acquiring an additional 48 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Stock Performance

NASDAQ FSLR opened at $204.45 on Friday. The firm’s fifty day simple moving average is $218.20 and its two-hundred day simple moving average is $222.47. The firm has a market capitalization of $21.97 billion, a P/E ratio of 12.60, a P/E/G ratio of 0.54 and a beta of 1.74. First Solar has a 12-month low of $182.99 and a 12-month high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 EPS for the quarter, beating the consensus estimate of $2.90 by $1.02. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The business’s revenue for the quarter was down 3.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.18 EPS. As a group, sell-side analysts predict that First Solar will post 17.77 earnings per share for the current fiscal 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.