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

Shares of First Solar, Inc. (NASDAQ:FSLR) have earned an average recommendation of “Moderate Buy” from the twenty-eight ratings firms that are covering the firm, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $262.08.

FSLR has been the subject of several analyst reports. Morgan Stanley decreased their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Robert W. Baird decreased their price objective on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Redburn Atlantic assumed coverage on shares of First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Bank of America cut their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Piper Sandler lowered their price target on First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 26th.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 229 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 34,311 shares of company stock worth $4,767,158. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC lifted its stake in First Solar by 3.8% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after purchasing an additional 222 shares during the last quarter. Lighthouse Financial LLC acquired a new position in shares of First Solar in the 4th quarter valued at $363,000. Siemens Fonds Invest GmbH grew its position in shares of First Solar by 147.9% in the 4th quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock valued at $484,000 after buying an additional 1,640 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in First Solar during the 4th quarter worth $43,442,000. Finally, Mackenzie Financial Corp lifted its position in First Solar by 4.7% in the fourth quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after acquiring an additional 738 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $127.32 on Friday. The business’s 50-day moving average is $150.28 and its two-hundred day moving average is $185.33. The company has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a P/E/G ratio of 0.19 and a beta of 1.52. First Solar has a fifty-two week low of $124.32 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate of $4.81 by ($1.16). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. Research analysts predict that First Solar will post 13.05 earnings per share for the current year.

About First Solar

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.