First Solar, Inc. (NASDAQ:FSLR) Receives $275.36 Average PT from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has been assigned a consensus rating of “Moderate Buy” from the twenty-five analysts that are currently covering the company, Marketbeat reports. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $275.36.

A number of brokerages have recently commented on FSLR. Susquehanna lifted their price objective on shares of First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Robert W. Baird reduced their price target on First Solar from $344.00 to $307.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Clarkson Capital started coverage on First Solar in a research note on Wednesday, August 14th. They issued a “buy” rating and a $270.00 price objective on the stock. The Goldman Sachs Group lifted their target price on First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research note on Tuesday, June 4th. Finally, Roth Mkm restated a “buy” rating and issued a $320.00 price target (up previously from $230.00) on shares of First Solar in a research note on Friday, May 31st.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. In the last quarter, insiders have sold 37,203 shares of company stock valued at $9,598,253. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently modified their holdings of FSLR. Senator Investment Group LP increased its holdings in First Solar by 18.7% in the 2nd quarter. Senator Investment Group LP now owns 126,963 shares of the solar cell manufacturer’s stock worth $28,625,000 after purchasing an additional 20,000 shares in the last quarter. EP Wealth Advisors LLC bought a new stake in shares of First Solar during the second quarter worth about $261,000. CMG Global Holdings LLC acquired a new position in shares of First Solar in the second quarter valued at approximately $225,000. Ecofi Investissements SA bought a new position in First Solar in the 2nd quarter valued at approximately $6,532,000. Finally, Quarry LP boosted its position in First Solar by 117.1% during the 2nd quarter. Quarry LP now owns 9,447 shares of the solar cell manufacturer’s stock worth $2,130,000 after buying an additional 5,095 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Stock Performance

Shares of FSLR stock opened at $220.20 on Friday. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The company’s fifty day simple moving average is $231.45 and its 200-day simple moving average is $201.24. The firm has a market cap of $23.57 billion, a PE ratio of 23.08, a P/E/G ratio of 0.37 and a beta of 1.44. The company has a quick ratio of 1.86, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period in the prior year, the business posted $1.85 EPS. The company’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that First Solar will post 13.53 EPS 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.