First Solar, Inc. (FSLR) Receives Average Recommendation of “Hold” from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have received an average rating of “Hold” from the twenty-five brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $64.00.

Several brokerages have recently issued reports on FSLR. ValuEngine upgraded shares of First Solar from a “hold” rating to a “buy” rating in a report on Sunday, December 31st. Vetr cut shares of First Solar from a “hold” rating to a “sell” rating and set a $49.20 price target on the stock. in a report on Monday, September 25th. Guggenheim reiterated a “neutral” rating on shares of First Solar in a report on Thursday. They noted that the move was a valuation call. Roth Capital reiterated a “buy” rating and issued a $60.00 price target on shares of First Solar in a report on Tuesday, September 26th. Finally, Vertical Group started coverage on shares of First Solar in a report on Thursday, January 11th. They issued a “buy” rating on the stock.

First Solar (NASDAQ FSLR) opened at $71.09 on Friday. The company has a quick ratio of 6.47, a current ratio of 6.85 and a debt-to-equity ratio of 0.06. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The stock has a market cap of $7,420.00, a P/E ratio of -17.09 and a beta of 2.04.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter last year, the business earned $1.22 earnings per share. The business’s revenue was up 59.5% on a year-over-year basis. research analysts forecast that First Solar will post 2.52 EPS for the current fiscal year.

In other news, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the sale, the chief operating officer now owns 10,424 shares in the company, valued at approximately $707,059.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the sale, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,858 shares of company stock worth $3,134,015. Company insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FSLR. Key Square Capital Management LLC purchased a new position in shares of First Solar in the 3rd quarter worth about $23,621,000. Ecofin Ltd. purchased a new position in shares of First Solar in the 2nd quarter worth about $19,485,000. Lord Abbett & CO. LLC purchased a new position in shares of First Solar in the 2nd quarter worth about $15,099,000. Gotham Asset Management LLC purchased a new position in shares of First Solar in the 2nd quarter worth about $14,135,000. Finally, Cornerstone Capital Management Holdings LLC. purchased a new position in shares of First Solar in the 2nd quarter worth about $9,877,000. 50.88% of the stock is owned by hedge funds and other institutional investors.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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