First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned an average recommendation of “Moderate Buy” from the thirty-three research firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have given a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have covered the stock in the last year is $249.7793.

A number of brokerages have commented on FSLR. Susquehanna decreased their price objective on First Solar from $280.00 to $250.00 and set a “positive” rating for the company in a research report on Thursday, April 9th. Argus upped their price target on shares of First Solar from $250.00 to $275.00 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Freedom Capital raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 5th. Morgan Stanley dropped their price target on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 28th. Finally, Mizuho upped their price target on shares of First Solar from $243.00 to $300.00 and gave the stock an “outperform” rating in a research note on Friday, June 12th.

Key Headlines Impacting First Solar

Here are the key news stories impacting First Solar this week:

• Negative Sentiment: Several firms, including Howard G. Smith, Bronstein Gewirtz & Grossman, Rosen Law, Pomerantz, Portnoy, and the Schall Law Firm, announced or promoted class-action cases tied to First Solar, increasing legal overhang and headline risk. Article Title
• Negative Sentiment: Multiple securities-fraud investigations were also launched or reiterated by plaintiff firms, suggesting investors are actively probing whether earlier company disclosures may have been misleading. Article Title
• Neutral Sentiment: One Zacks item called First Solar a strong growth stock, which is supportive on fundamentals, but it appears to be a generic rating piece rather than a new company-specific catalyst. Article Title

First Solar Trading Down 3.8%

Shares of NASDAQ FSLR opened at $239.07 on Monday. First Solar has a one year low of $149.54 and a one year high of $320.95. The firm has a market capitalization of $25.69 billion, a PE ratio of 15.44, a PEG ratio of 0.55 and a beta of 1.71. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The business has a 50-day moving average price of $243.56 and a two-hundred day moving average price of $233.11.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company posted $1.95 EPS. The business’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, analysts predict that First Solar will post 17.61 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Alexander R. Bradley sold 498 shares of the company’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $215.63, for a total value of $107,383.74. Following the transaction, the chief financial officer directly owned 30,712 shares of the company’s stock, valued at approximately $6,622,428.56. This represents a 1.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Caroline Stockdale sold 10,628 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the transaction, the insider directly owned 23,792 shares in the company, valued at $6,557,075.20. This trade represents a 30.88% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 32,466 shares of company stock valued at $8,014,105 in the last three months. Company insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently bought and sold shares of FSLR. Norges Bank acquired a new position in First Solar during the fourth quarter worth $392,040,000. Viking Global Investors LP increased its position 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 buying an additional 854,919 shares during the last quarter. Polar Capital Holdings Plc acquired a new position in First Solar during the fourth quarter worth $200,109,000. Lightrock Netherlands B.V. increased its position in First Solar by 2,663.8% during the fourth quarter. Lightrock Netherlands B.V. now owns 666,307 shares of the solar cell manufacturer’s stock worth $174,059,000 after buying an additional 642,199 shares during the last quarter. Finally, Amundi increased 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 worth $459,917,000 after buying an additional 564,032 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

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.