First Solar, Inc. (NASDAQ:FSLR) Receives $121.74 Average Price Target from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLRGet Rating) have earned an average recommendation of “Hold” from the twenty-two ratings firms that are covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have assigned a hold recommendation and eight have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $122.26.

Several research firms have recently weighed in on FSLR. Bank of America boosted their target price on First Solar from $141.00 to $152.00 in a report on Wednesday, August 31st. Susquehanna boosted their target price on First Solar from $120.00 to $175.00 and gave the company a “positive” rating in a report on Friday, September 9th. The Goldman Sachs Group raised First Solar from a “sell” rating to a “buy” rating and boosted their target price for the company from $60.00 to $172.00 in a report on Wednesday, September 7th. Morgan Stanley boosted their target price on First Solar from $136.00 to $146.00 and gave the company an “equal weight” rating in a report on Thursday. Finally, Oppenheimer raised First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 price objective for the company in a research note on Friday, July 29th.

First Solar Trading Down 2.8 %

NASDAQ:FSLR opened at $131.77 on Friday. The stock has a 50-day simple moving average of $111.46 and a 200-day simple moving average of $86.04. The stock has a market cap of $14.05 billion, a P/E ratio of 74.87 and a beta of 1.37. First Solar has a 1 year low of $59.60 and a 1 year high of $140.64. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.20 and a current ratio of 4.21.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings data on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). The business had revenue of $621.00 million for the quarter, compared to analyst estimates of $606.45 million. First Solar had a return on equity of 3.21% and a net margin of 7.63%. During the same period in the prior year, the company posted $0.77 earnings per share. The company’s revenue was down 1.3% compared to the same quarter last year. As a group, analysts anticipate that First Solar will post -0.06 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, Director R Craig Kennedy sold 600 shares of the stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.79, for a total transaction of $38,874.00. Following the completion of the transaction, the director now directly owns 20,385 shares of the company’s stock, valued at approximately $1,320,744.15. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler purchased 489 shares of the stock in a transaction that occurred on Friday, August 5th. The shares were acquired at an average price of $102.10 per share, for a total transaction of $49,926.90. Following the acquisition, the insider now directly owns 4,117 shares in the company, valued at approximately $420,345.70. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director R Craig Kennedy sold 600 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $64.79, for a total value of $38,874.00. Following the completion of the sale, the director now owns 20,385 shares in the company, valued at approximately $1,320,744.15. The disclosure for this sale can be found here. In the last three months, insiders sold 45,073 shares of company stock valued at $4,126,658. Corporate insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the company. Teacher Retirement System of Texas grew its holdings in First Solar by 20.4% during the 4th quarter. Teacher Retirement System of Texas now owns 18,505 shares of the solar cell manufacturer’s stock valued at $1,613,000 after buying an additional 3,136 shares during the last quarter. Rhumbline Advisers grew its holdings in First Solar by 3.7% during the 4th quarter. Rhumbline Advisers now owns 262,246 shares of the solar cell manufacturer’s stock valued at $22,857,000 after buying an additional 9,346 shares during the last quarter. Bank of Montreal Can grew its holdings in First Solar by 320.2% during the 4th quarter. Bank of Montreal Can now owns 232,906 shares of the solar cell manufacturer’s stock valued at $20,724,000 after buying an additional 177,482 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in First Solar by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 651,178 shares of the solar cell manufacturer’s stock valued at $56,757,000 after buying an additional 14,936 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in First Solar during the 4th quarter valued at $46,535,000. Institutional investors and hedge funds own 79.21% of the company’s stock.

First Solar Company Profile

(Get Rating)

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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