First Solar (NASDAQ:FSLR) Stock Bumped Up to “Outperform” by William Blair

First Solar (NASDAQ:FSLR) was upgraded by equities research analysts at William Blair from a “market perform” rating to an “outperform” rating in a research note issued on Thursday, Marketbeat reports.

A number of other research firms also recently issued reports on FSLR. Needham & Company LLC decreased their target price on First Solar from $303.00 to $236.00 and set a “buy” rating for the company in a research report on Friday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of First Solar in a research report on Friday, October 30th. Jefferies Financial Group reiterated a “hold” rating and set a $199.00 price target on shares of First Solar in a research note on Friday, October 16th. Sanford C. Bernstein decreased their price objective on First Solar from $197.00 to $169.00 and set an “underperform” rating for the company in a report on Friday, October 30th. Finally, JPMorgan Chase & Co. lowered their price objective on First Solar from $252.00 to $233.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. Three equities research analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $257.38.

First Solar Stock Up 4.6%

FSLR opened at $194.51 on Thursday. The stock has a market cap of $20.91 billion, a price-to-earnings ratio of 11.26, a PEG ratio of 0.50 and a beta of 1.73. First Solar has a twelve month low of $165.86 and a twelve month high of $320.95. The company’s 50-day moving average price is $187.38 and its two-hundred day moving average price is $215.40.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 29th. The solar cell manufacturer reported $5.30 earnings per share for the quarter, beating analysts’ consensus estimates of $4.67 by $0.63. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.29 billion. First Solar had a net margin of 37.12% and a return on equity of 18.33%. The company’s revenue was down 22.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.24 EPS. As a group, sell-side analysts anticipate that First Solar will post 17.66 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, EVP Samantha L. Sloan sold 127 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the transaction, the executive vice president directly owned 2,018 shares of the company’s stock, valued at $449,913.10. This trade represents a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason E. Dymbort sold 3,700 shares of First Solar stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the transaction, the general counsel owned 5,624 shares of the company’s stock, valued at approximately $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 5,427 shares of company stock valued at $1,250,221 in the last 90 days. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. BlackRock Inc. purchased a new position in First Solar during the 2nd quarter valued at about $3,310,298,000. Hill City Capital LP purchased a new stake in shares of First Solar in the second quarter worth about $620,133,555. Deutsche Bank AG purchased a new stake in shares of First Solar in the second quarter worth about $212,626,000. Bank of America Corp DE purchased a new stake in shares of First Solar in the second quarter worth about $171,043,000. Finally, Bank of New York Mellon Corp bought a new position in shares of First Solar in the second quarter valued at approximately $164,962,000. 92.08% of the stock is currently owned by institutional investors.

Key Headlines Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: Investors anticipate that Democratic control of Congress could improve prospects for federal support of renewable energy and domestic solar manufacturing, lifting First Solar and other clean-energy shares. The extent and timing of any policy changes remain uncertain. Article: First Solar Jumps as Democratic Sweep Revives Clean-Energy Hopes
• Positive Sentiment: First Solar’s U.S. manufacturing footprint may also benefit from existing tariffs that support its competitive position against imported solar products. Article: First Solar Jumps After Democratic Sweep, but Tariffs Already Favor It
• Positive Sentiment: Options activity pointed to bullish positioning: traders bought 67,156 FSLR call options, 128% above the average volume reported in the article.
• Neutral Sentiment: The rally was part of a broader market rotation into clean-energy stocks after the election. The policy shift may change investor expectations, but it does not immediately alter company earnings, and the legislative path remains uncertain. Article: “Blue Trade” Sends First Solar and Sunrun Soaring
• Negative Sentiment: Barclays and Guggenheim each cut their price target on First Solar, providing a counterpoint to the election-driven optimism. The available reports do not specify the revised targets. Article: First Solar Price Target Cut by Barclays Article: First Solar Price Target Cut by Guggenheim

First Solar Company Profile

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.