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

First Solar, Inc. (NASDAQ:FSLR) has received an average recommendation of “Moderate Buy” from the twenty-six research firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $289.46.

A number of brokerages have recently weighed in on FSLR. Robert W. Baird cut their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Roth Mkm cut their price objective on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research report on Tuesday, October 15th. DZ Bank raised First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research report on Thursday, August 1st. BMO Capital Markets dropped their price target on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 31st. Finally, William Blair assumed coverage on First Solar in a report on Thursday, August 29th. They issued a “market perform” rating for the company.

First Solar Trading Down 2.6 %

FSLR opened at $199.67 on Wednesday. First Solar has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The business has a 50 day simple moving average of $223.18 and a two-hundred day simple moving average of $224.11. The firm has a market capitalization of $21.37 billion, a price-to-earnings ratio of 20.93, a PEG ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. Analysts predict that First Solar will post 13.39 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 over the last quarter. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently modified their holdings of FSLR. AlphaMark Advisors LLC purchased a new position in First Solar during the third quarter valued at $25,000. Atlas Capital Advisors LLC lifted its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares in the last quarter. Summit Securities Group LLC bought a new position in shares of First Solar during the 2nd quarter valued at approximately $36,000. Itau Unibanco Holding S.A. purchased a new stake in First Solar in the 2nd quarter worth approximately $38,000. Finally, Alta Advisers Ltd bought a new stake in First Solar during the 2nd quarter worth approximately $45,000. Institutional investors own 92.08% of the company’s stock.

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.