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

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average recommendation of “Moderate Buy” from the twenty-five analysts that are currently covering the company, Marketbeat reports. Four analysts have rated the stock with a hold recommendation and twenty-one have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $277.25.

FSLR has been the topic of a number of analyst reports. Oppenheimer lifted their price objective on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays increased their target price on First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price target on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research note on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, UBS Group increased their price target on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st.

First Solar Price Performance

First Solar stock opened at $205.36 on Tuesday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a 50 day moving average price of $220.83 and a 200 day moving average price of $208.24. The company has a market cap of $21.98 billion, a price-to-earnings ratio of 21.53, a PEG ratio of 0.35 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.85 EPS. Sell-side analysts predict that First Solar will post 13.6 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders sold a total of 12,506 shares of company stock valued at $2,827,217 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Atlas Capital Advisors LLC grew its position in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the first quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar in the 4th quarter valued at approximately $27,000. Summit Securities Group LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $36,000. Finally, Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.