First Solar, Inc. (NASDAQ:FSLR) Receives Average Recommendation of “Moderate Buy” from Analysts

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are presently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and twenty-one have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $265.72.

A number of research firms have recently commented on FSLR. Roth Mkm reiterated a “buy” rating and issued a $320.00 price objective (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Morgan Stanley increased their price target on shares of First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a research note on Tuesday, June 4th. BMO Capital Markets boosted their price objective on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Piper Sandler increased their target price on shares of First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research report on Tuesday, May 21st. Finally, DZ Bank cut shares of First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target for the company. in a research report on Wednesday, May 29th.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the transaction, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $260.00, for a total transaction of $421,460.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders sold a total of 57,890 shares of company stock worth $13,709,131 over the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cambridge Trust Co. grew its stake in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares during the last quarter. Great Diamond Partners LLC grew its position in shares of First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock valued at $247,000 after purchasing an additional 53 shares during the last quarter. Family Legacy Inc. grew its position in shares of First Solar by 1.4% in the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after purchasing an additional 69 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in shares of First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares in the last quarter. Finally, Atticus Wealth Management LLC raised its position in shares of First Solar by 15.6% during the 1st quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock worth $90,000 after purchasing an additional 72 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Stock Performance

Shares of FSLR opened at $247.93 on Thursday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The stock has a market capitalization of $26.54 billion, a PE ratio of 25.99, a PEG ratio of 0.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The stock has a 50-day simple moving average of $230.05 and a 200-day simple moving average of $183.90.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter last year, the company earned $0.40 earnings per share. The firm’s revenue was up 44.8% compared to the same quarter last year. On average, analysts predict that First Solar will post 13.58 earnings per share for the current fiscal year.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.