First Solar Inc. (FSLR) Earns Neutral Rating from Analysts at Piper Jaffray Cos.
Piper Jaffray Cos. started coverage on shares of First Solar Inc. (NASDAQ:FSLR) in a report issued on Monday morning. The firm issued a neutral rating and a $43.00 target price on the solar cell manufacturer’s stock.
A number of other analysts have also recently issued reports on the stock. Mizuho reduced their price objective on shares of First Solar from $67.00 to $46.00 and set a neutral rating for the company in a research note on Wednesday, August 10th. Goldman Sachs Group Inc. cut shares of First Solar from a buy rating to a neutral rating and reduced their price objective for the stock from $58.00 to $42.00 in a research note on Thursday, October 6th. Vetr raised shares of First Solar from a hold rating to a buy rating and set a $50.01 price objective for the company in a research note on Tuesday, July 26th. JPMorgan Chase & Co. reissued a hold rating and issued a $53.00 price objective (down from $65.00) on shares of First Solar in a research note on Wednesday, September 28th. Finally, Williams Capital started coverage on shares of First Solar in a research note on Friday, September 30th. They issued a buy rating and a $50.00 price objective for the company. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $56.28.
First Solar (NASDAQ:FSLR) opened at 38.24 on Monday. The stock’s 50 day moving average is $37.49 and its 200-day moving average is $47.46. First Solar has a 52-week low of $33.74 and a 52-week high of $74.29. The stock has a market capitalization of $3.91 billion, a price-to-earnings ratio of 5.63 and a beta of 1.54.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.32. The firm earned $934.40 million during the quarter, compared to analysts’ expectations of $862.68 million. First Solar had a net margin of 17.45% and a return on equity of 13.78%. The company’s revenue for the quarter was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.93 earnings per share. Equities research analysts anticipate that First Solar will post $4.25 EPS for the current fiscal year.
In other news, insider Georges Antoun sold 133,761 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.54, for a total value of $5,957,714.94. Following the completion of the sale, the insider now owns 151,471 shares in the company, valued at approximately $6,746,518.34. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, COO Philip Dejong sold 67,251 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.28, for a total transaction of $2,977,874.28. Following the completion of the sale, the chief operating officer now owns 45,499 shares of the company’s stock, valued at approximately $2,014,695.72. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.
Several large investors have recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. raised its stake in First Solar by 1,966.7% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 3,100 shares of the solar cell manufacturer’s stock valued at $212,000 after buying an additional 2,950 shares in the last quarter. Scotia Capital Inc. acquired a new stake in First Solar during the first quarter valued at approximately $302,000. Rafferty Asset Management LLC acquired a new stake in First Solar during the first quarter valued at approximately $474,000. Kempen Capital Management N.V. raised its stake in First Solar by 53.5% in the first quarter. Kempen Capital Management N.V. now owns 5,155 shares of the solar cell manufacturer’s stock valued at $353,000 after buying an additional 1,797 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new stake in First Solar during the first quarter valued at approximately $819,000. Institutional investors and hedge funds own 57.51% of the company’s stock.
First Solar Company Profile
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Company operates through two segments: components and systems.
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