First Solar (NASDAQ:FSLR) Earns “Buy” Rating from Argus

First Solar (NASDAQ:FSLR)‘s stock had its “buy” rating reaffirmed by stock analysts at Argus in a report released on Wednesday,Benzinga reports. They presently have a $275.00 price objective on the solar cell manufacturer’s stock. Argus’ price objective would suggest a potential upside of 32.31% from the company’s current price.

A number of other analysts have also issued reports on FSLR. Robert W. Baird set a $318.00 price target on First Solar and gave the stock an “outperform” rating in a research note on Tuesday, August 11th. Wells Fargo & Company upped their target price on shares of First Solar from $300.00 to $313.00 and gave the stock an “overweight” rating in a report on Friday, August 7th. Citigroup boosted their price target on shares of First Solar from $294.00 to $297.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. Barclays increased their price objective on shares of First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a report on Tuesday, July 14th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of First Solar in a research note on Friday, July 31st. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $265.37.

First Solar Trading Up 0.5%

Shares of NASDAQ FSLR opened at $207.85 on Wednesday. First Solar has a 12 month low of $182.99 and a 12 month high of $320.95. The company has a 50 day simple moving average of $226.41 and a two-hundred day simple moving average of $223.78. The stock has a market cap of $22.33 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.45 and a beta of 1.75.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $1.02. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same quarter last year, the company posted $3.18 earnings per share. The firm’s revenue was down 3.4% compared to the same quarter last year. Analysts forecast that First Solar will post 17.77 EPS for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 829 shares of the stock in a transaction on Tuesday, August 4th. The stock was sold at an average price of $248.00, for a total value of $205,592.00. Following the transaction, the chief technology officer owned 6,642 shares of the company’s stock, valued at $1,647,216. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of the company’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at $1,692,779.42. This trade represents a 47.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 25,709 shares of company stock valued at $6,386,163 over the last quarter. Insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several large investors have recently bought and sold shares of the stock. Commonwealth Retirement Investments LLC acquired a new stake in shares of First Solar during the fourth quarter worth about $26,000. Reflection Asset Management purchased a new position in First Solar during the 4th quarter worth approximately $26,000. Strategic Wealth Investment Group LLC purchased a new position in First Solar during the 2nd quarter worth approximately $26,000. Larson Financial Group LLC grew its stake in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC acquired a new position in First Solar during the fourth quarter worth approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.