First Solar, Inc. (NASDAQ:FSLR) Receives $106.95 Average Price Target from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned a consensus recommendation of “Hold” from the twenty-four ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have issued a buy rating on the company. The average twelve-month price target among analysts that have covered the stock in the last year is $107.35.

Several research firms recently issued reports on FSLR. Zacks Investment Research raised shares of First Solar from a “sell” rating to a “hold” rating and set a $110.00 price target on the stock in a report on Friday, November 19th. Morgan Stanley upped their price target on shares of First Solar from $57.00 to $61.00 and gave the company an “underweight” rating in a report on Tuesday, September 21st. Piper Sandler upped their price target on shares of First Solar from $80.00 to $89.00 and gave the company a “neutral” rating in a report on Monday, August 2nd. KeyCorp began coverage on shares of First Solar in a report on Monday, September 20th. They issued a “sector weight” rating on the stock. Finally, Susquehanna increased their target price on shares of First Solar from $123.00 to $140.00 and gave the stock a “positive” rating in a report on Tuesday, November 9th.

Shares of FSLR stock traded up $1.14 on Friday, hitting $108.28. The stock had a trading volume of 2,096,551 shares, compared to its average volume of 2,150,343. The firm has a market capitalization of $11.51 billion, a price-to-earnings ratio of 25.60, a P/E/G ratio of 2.37 and a beta of 1.35. The stock’s 50 day moving average is $105.34 and its 200-day moving average is $92.89. The company has a debt-to-equity ratio of 0.04, a quick ratio of 3.35 and a current ratio of 4.26. First Solar has a 52-week low of $67.71 and a 52-week high of $123.13.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, November 4th. The solar cell manufacturer reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.60 by ($0.18). The company had revenue of $583.50 million during the quarter, compared to analyst estimates of $688.10 million. First Solar had a net margin of 17.26% and a return on equity of 7.94%. The company’s revenue was down 37.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.45 earnings per share. Equities analysts expect that First Solar will post 4.23 earnings per share for the current year.

In other news, CTO Markus Gloeckler sold 603 shares of the firm’s stock in a transaction dated Monday, November 22nd. The shares were sold at an average price of $112.82, for a total transaction of $68,030.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Jason E. Dymbort sold 1,120 shares of the company’s stock in a transaction dated Tuesday, October 19th. The shares were sold at an average price of $104.80, for a total transaction of $117,376.00. The disclosure for this sale can be found here. Insiders sold a total of 2,923 shares of company stock valued at $318,810 in the last quarter. 0.55% of the stock is currently owned by insiders.

A number of hedge funds have recently bought and sold shares of FSLR. Private Ocean LLC purchased a new stake in First Solar during the third quarter valued at about $38,000. Eaton Vance Management purchased a new stake in shares of First Solar in the first quarter worth approximately $39,000. Penserra Capital Management LLC lifted its position in shares of First Solar by 141.3% in the second quarter. Penserra Capital Management LLC now owns 514 shares of the solar cell manufacturer’s stock worth $45,000 after purchasing an additional 301 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of First Solar in the second quarter worth approximately $46,000. Finally, Fifth Third Bancorp lifted its position in shares of First Solar by 87.0% in the third quarter. Fifth Third Bancorp now owns 533 shares of the solar cell manufacturer’s stock worth $51,000 after purchasing an additional 248 shares in the last quarter. 73.48% of the stock is owned by institutional investors.

About First Solar

First Solar, Inc engages in designing, manufacturing, marketing, and distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves in the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.

Further Reading: Catch-Up Contributions

Analyst Recommendations for First Solar (NASDAQ:FSLR)

Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.