First Solar, Inc. (FSLR) Raised to “Buy” at Deutsche Bank AG
First Solar, Inc. (NASDAQ:FSLR) was upgraded by equities research analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a report released on Friday.
Several other equities research analysts also recently weighed in on the company. TheStreet raised First Solar from a “d+” rating to a “c” rating in a report on Wednesday, July 19th. BidaskClub downgraded First Solar from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Cowen and Company reaffirmed a “buy” rating and set a $57.00 price target on shares of First Solar in a report on Sunday, September 3rd. Morgan Stanley reaffirmed an “equal weight” rating on shares of First Solar in a report on Tuesday, July 11th. Finally, Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $44.74.
First Solar (NASDAQ FSLR) opened at 48.45 on Friday. The stock’s market capitalization is $5.06 billion. The firm’s 50-day moving average is $47.71 and its 200-day moving average is $38.02. First Solar has a 52-week low of $25.56 and a 52-week high of $50.21.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.04 by $0.60. The business had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. The company’s revenue was down 38.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.87 earnings per share. Analysts predict that First Solar will post $2.11 earnings per share for the current year.
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In other First Solar news, CEO Mark R. Widmar sold 43,189 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $48.55, for a total value of $2,096,825.95. Following the sale, the chief executive officer now directly owns 107,454 shares of the company’s stock, valued at approximately $5,216,891.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Raffi Garabedian sold 5,800 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $49.83, for a total value of $289,014.00. Following the completion of the sale, the insider now directly owns 11,474 shares in the company, valued at $571,749.42. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,909 shares of company stock valued at $4,705,246. 0.58% of the stock is currently owned by company insiders.
Large investors have recently modified their holdings of the business. Bank of Nova Scotia acquired a new stake in First Solar in the 1st quarter worth about $212,000. Benjamin F. Edwards & Company Inc. boosted its stake in First Solar by 57.6% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after buying an additional 950 shares during the last quarter. Fiduciary Trust Co. acquired a new stake in First Solar in the 2nd quarter worth about $128,000. NEXT Financial Group Inc boosted its stake in First Solar by 23.9% in the 2nd quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 975 shares during the last quarter. Finally, Parsec Financial Management Inc. acquired a new stake in First Solar in the 2nd quarter worth about $204,000. 53.61% of the stock is currently owned by hedge funds and other institutional investors.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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