First Solar, Inc. (FSLR) Given Consensus Rating of “Hold” by Analysts
Shares of First Solar, Inc. (NASDAQ:FSLR) have received an average recommendation of “Hold” from the thirty brokerages that are presently covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, nineteen have given a hold recommendation and nine have issued a buy recommendation on the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $44.07.
Several equities research analysts recently commented on FSLR shares. Cowen and Company set a $40.00 price objective on First Solar and gave the stock a “buy” rating in a report on Monday, July 10th. Axiom Securities upgraded First Solar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $45.40 to $51.00 in a report on Wednesday, July 19th. Credit Suisse Group upgraded First Solar from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $25.00 to $31.00 in a research note on Monday, May 1st. Zacks Investment Research downgraded First Solar from a “hold” rating to a “sell” rating in a research note on Tuesday, July 4th. Finally, ValuEngine downgraded First Solar from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd.
First Solar (FSLR) opened at 48.57 on Friday. First Solar has a 52-week low of $25.56 and a 52-week high of $50.21. The company’s 50-day moving average is $41.35 and its 200 day moving average is $34.90. The company’s market cap is $5.07 billion.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.60. The firm had revenue of $623 million during the quarter, compared to analyst estimates of $591.55 million. First Solar had a positive return on equity of 6.43% and a negative net margin of 18.80%. First Solar’s quarterly revenue was down 38.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. Equities analysts forecast that First Solar will post $2.23 earnings per share for the current fiscal year.
In other First Solar news, Director J Thomas Presby acquired 4,000 shares of the company’s stock in a transaction on Thursday, May 11th. The shares were bought at an average cost of $36.89 per share, with a total value of $147,560.00. Following the completion of the acquisition, the director now owns 17,958 shares in the company, valued at $662,470.62. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 95,011 shares of company stock worth $4,661,550. 0.40% of the stock is owned by corporate insiders.
Institutional investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its position in shares of First Solar by 57.6% in the second 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. Amica Retiree Medical Trust increased its position in shares of First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the last quarter. LS Investment Advisors LLC increased its position in shares of First Solar by 36.7% in the first quarter. LS Investment Advisors LLC now owns 5,275 shares of the solar cell manufacturer’s stock worth $143,000 after buying an additional 1,417 shares during the last quarter. Trust Co. of Vermont increased its position in shares of First Solar by 27.8% in the first quarter. Trust Co. of Vermont now owns 5,477 shares of the solar cell manufacturer’s stock worth $149,000 after buying an additional 1,190 shares during the last quarter. Finally, James Investment Research Inc. bought a new position in shares of First Solar during the first quarter worth approximately $163,000. Hedge funds and other institutional investors own 60.75% of the company’s stock.
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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