First Solar (FSLR) Given a $80.00 Price Target by Roth Capital Analysts
Several other research firms have also commented on FSLR. Zacks Investment Research lowered First Solar from a strong-buy rating to a hold rating in a research report on Friday, October 13th. Deutsche Bank upgraded First Solar from a hold rating to a buy rating and upped their target price for the stock from $50.00 to $65.00 in a research note on Friday, September 15th. Robert W. Baird restated a hold rating and issued a $50.00 target price on shares of First Solar in a research note on Friday, September 1st. Vetr downgraded First Solar from a strong-buy rating to a buy rating and set a $51.52 target price on the stock. in a research note on Wednesday, October 18th. Finally, JMP Securities set a $67.00 target price on First Solar and gave the stock a buy rating in a research note on Wednesday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. First Solar presently has an average rating of Buy and an average target price of $60.13.
First Solar (NASDAQ:FSLR) traded up $0.03 on Monday, hitting $70.05. The stock had a trading volume of 3,810,400 shares, compared to its average volume of 2,796,978. The company has a market cap of $7,312.40, a price-to-earnings ratio of 17.16 and a beta of 2.03. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. First Solar has a 52-week low of $25.56 and a 52-week high of $71.80.
In related news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.58% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of FSLR. Suffolk Capital Management LLC purchased a new position in shares of First Solar during the third quarter worth $1,576,000. Scott & Selber Inc. purchased a new position in First Solar in the third quarter valued at $1,472,000. Commerzbank Aktiengesellschaft FI raised 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 buying an additional 79,987 shares in the last quarter. American International Group Inc. raised its stake in First Solar by 4.1% in the third quarter. American International Group Inc. now owns 166,620 shares of the solar cell manufacturer’s stock valued at $7,645,000 after buying an additional 6,610 shares in the last quarter. Finally, Gotham Asset Management LLC acquired a new stake in First Solar in the second quarter valued at $14,135,000. Institutional investors own 51.21% of the company’s stock.
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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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