First Solar Inc. (FSLR) Stock Price Up 1.2%
Shares of First Solar Inc. (NASDAQ:FSLR) rose 1.2% on Friday . The company traded as high as $38.14 and last traded at $37.49, with a volume of 1,984,603 shares. The stock had previously closed at $37.04.
FSLR has been the topic of a number of analyst reports. Mizuho decreased their target price on shares of First Solar from $67.00 to $46.00 and set a “neutral” rating on the stock in a report on Wednesday, August 10th. Vetr raised shares of First Solar from a “hold” rating to a “buy” rating and set a $50.01 target price on the stock in a report on Tuesday, July 26th. Goldman Sachs Group Inc. reaffirmed a “buy” rating and set a $67.00 target price on shares of First Solar in a report on Thursday, August 4th. Morgan Stanley set a $59.00 target price on shares of First Solar and gave the stock a “hold” rating in a report on Wednesday, August 3rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $60.00 target price on shares of First Solar in a report on Thursday, August 4th. Fourteen research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $62.36.
The company has a market capitalization of $3.84 billion and a price-to-earnings ratio of 5.53. The company has a 50-day moving average of $43.59 and a 200 day moving average of $54.43.
First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.32. The company had revenue of $934.40 million for the quarter, compared to the consensus estimate of $862.68 million. During the same quarter in the previous year, the business earned $0.93 EPS. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts predict that First Solar Inc. will post $4.32 earnings per share for the current fiscal year.
In related news, EVP Christopher Bueter sold 29,384 shares of the business’s stock in a transaction on Friday, August 5th. The shares were sold at an average price of $44.23, for a total value of $1,299,654.32. Following the sale, the executive vice president now owns 17,718 shares in the company, valued at $783,667.14. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Philip Dejong sold 67,251 shares of the business’s stock in a transaction on Friday, August 5th. The stock was 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 in the company, valued at approximately $2,014,695.72. The disclosure for this sale can be found here.
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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