Brokerages Set First Solar, Inc. (FSLR) Price Target at $46.79
First Solar, Inc. (NASDAQ:FSLR) has received an average rating of “Hold” from the twenty-seven analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation, ten have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $46.77.
Several research firms recently weighed in on FSLR. Zacks Investment Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday. BidaskClub upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. JMP Securities set a $67.00 target price on shares of First Solar and gave the company a “buy” rating in a report on Wednesday, August 16th. TheStreet upgraded shares of First Solar from a “d+” rating to a “c” rating in a report on Wednesday, July 19th. Finally, Vetr downgraded shares of First Solar from a “buy” rating to a “sell” rating and set a $46.69 target price for the company. in a report on Monday, July 31st.
In related news, CFO Alexander R. Bradley sold 566 shares of First Solar stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $48.66, for a total transaction of $27,541.56. Following the sale, the chief financial officer now directly owns 963 shares in the company, valued at approximately $46,859.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Mark R. Widmar sold 43,189 shares of First Solar stock in a transaction on Monday, July 31st. The stock was sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the sale, the chief executive officer now owns 107,454 shares in the company, valued at $5,216,891.70. The disclosure for this sale can be found here. Insiders have sold a total of 94,674 shares of company stock worth $4,655,846 over the last quarter. 0.58% of the stock is owned by company insiders.
A number of large investors have recently made changes to their positions in FSLR. Commerzbank Aktiengesellschaft FI increased its stake in First Solar by 72.5% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 190,386 shares of the solar cell manufacturer’s stock valued at $7,593,000 after purchasing an additional 79,987 shares during the period. Bank of America Corp DE increased its stake in First Solar by 67.2% in the first quarter. Bank of America Corp DE now owns 273,426 shares of the solar cell manufacturer’s stock valued at $7,409,000 after purchasing an additional 109,938 shares during the period. Gotham Asset Management LLC acquired a new position in First Solar in the second quarter valued at $14,135,000. HighTower Advisors LLC increased its stake in First Solar by 13.2% in the first quarter. HighTower Advisors LLC now owns 22,791 shares of the solar cell manufacturer’s stock valued at $617,000 after purchasing an additional 2,662 shares during the period. Finally, James Investment Research Inc. increased its stake in First Solar by 836.5% in the second quarter. James Investment Research Inc. now owns 56,190 shares of the solar cell manufacturer’s stock valued at $2,241,000 after purchasing an additional 50,190 shares during the period. Hedge funds and other institutional investors own 53.08% of the company’s stock.
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Shares of First Solar (FSLR) traded up 1.04% during mid-day trading on Wednesday, hitting $47.60. The company had a trading volume of 942,948 shares. The firm’s market capitalization is $4.97 billion. The firm has a 50-day moving average price of $47.71 and a 200 day moving average price of $40.34. First Solar has a 52-week low of $25.56 and a 52-week high of $53.00.
First Solar (NASDAQ:FSLR) last posted its earnings results 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. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The firm had revenue of $623.00 million during the quarter, compared to the consensus estimate of $591.55 million. During the same quarter last year, the firm earned $0.87 EPS. The firm’s revenue for the quarter was down 38.7% on a year-over-year basis. Analysts expect that First Solar will post $2.21 earnings per share for the current year.
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 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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