First Solar, Inc. (NASDAQ:FSLR) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus rating of “Moderate Buy” by the thirty-three research firms that are presently covering the firm, MarketBeat Ratings reports. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $275.9419.

FSLR has been the subject of several analyst reports. DZ Bank downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a report on Friday, October 31st. Mizuho upped their price target on First Solar from $278.00 to $335.00 in a report on Friday, October 31st. Morgan Stanley set a $275.00 price objective on shares of First Solar in a research report on Friday, October 31st. Robert W. Baird boosted their target price on First Solar from $240.00 to $264.00 and gave the company an “outperform” rating in a research note on Monday, October 13th. Finally, Rothschild & Co Redburn lifted their price objective on First Solar from $150.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 13th.

First Solar Stock Performance

NASDAQ FSLR opened at $224.01 on Friday. The business’s 50-day moving average price is $256.22 and its 200 day moving average price is $229.02. The company has a current ratio of 1.91, a quick ratio of 1.55 and a debt-to-equity ratio of 0.03. First Solar has a twelve month low of $116.56 and a twelve month high of $285.99. The company has a market capitalization of $24.04 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 0.32 and a beta of 1.60.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Thursday, October 30th. The solar cell manufacturer reported $4.24 EPS for the quarter, missing analysts’ consensus estimates of $4.32 by ($0.08). The firm had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.56 billion. First Solar had a return on equity of 16.61% and a net margin of 27.73%.The business’s revenue for the quarter was up 79.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.91 earnings per share. On average, research analysts predict that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, Director Michael T. Sweeney sold 4,500 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $271.11, for a total value of $1,219,995.00. Following the completion of the transaction, the director directly owned 13,662 shares of the company’s stock, valued at approximately $3,703,904.82. This represents a 24.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 37,412 shares of the business’s stock in a transaction that occurred on Tuesday, November 4th. The stock was sold at an average price of $265.01, for a total value of $9,914,554.12. Following the transaction, the insider directly owned 15,424 shares in the company, valued at $4,087,514.24. This trade represents a 70.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 48,912 shares of company stock worth $12,971,349. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of First Solar by 3.5% in the third quarter. Vanguard Group Inc. now owns 13,721,979 shares of the solar cell manufacturer’s stock valued at $3,026,108,000 after buying an additional 464,130 shares during the period. State Street Corp lifted its position in shares of First Solar by 2.1% during the second quarter. State Street Corp now owns 5,326,082 shares of the solar cell manufacturer’s stock worth $881,680,000 after acquiring an additional 111,927 shares in the last quarter. Geode Capital Management LLC increased its stake in First Solar by 0.9% in the 2nd quarter. Geode Capital Management LLC now owns 2,857,848 shares of the solar cell manufacturer’s stock worth $471,927,000 after acquiring an additional 26,476 shares during the last quarter. Viking Global Investors LP lifted its stake in First Solar by 60.6% during the second quarter. Viking Global Investors LP now owns 2,266,050 shares of the solar cell manufacturer’s stock worth $375,122,000 after purchasing an additional 854,919 shares during the last quarter. Finally, Amundi boosted its position in First Solar by 38.6% during the third quarter. Amundi now owns 2,025,835 shares of the solar cell manufacturer’s stock valued at $459,917,000 after buying an additional 564,032 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.