Vetr upgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a strong-buy rating in a report released on Tuesday, October 17th. The brokerage currently has $53.04 price objective on the solar cell manufacturer’s stock.
A number of other research analysts have also recently weighed in on FSLR. Axiom Securities reaffirmed a buy rating on shares of First Solar in a research report on Thursday, August 10th. JMP Securities set a $67.00 target price on shares of First Solar and gave the stock a buy rating in a research report on Wednesday, August 16th. ValuEngine raised shares of First Solar from a hold rating to a buy rating in a research report on Friday, August 11th. BidaskClub cut shares of First Solar from a strong-buy rating to a buy rating in a research report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of First Solar from a buy rating to a hold rating in a research report on Friday, August 4th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $46.29.
First Solar (FSLR) opened at 47.92 on Tuesday. The firm’s 50 day moving average is $47.70 and its 200 day moving average is $41.62. The company’s market cap is $5.00 billion. First Solar has a 12-month low of $25.56 and a 12-month high of $53.00.
First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. First Solar’s revenue was up 59.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 earnings per share. Equities research analysts anticipate that First Solar will post $2.21 EPS for the current fiscal year.
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In other First Solar news, CFO Alexander R. Bradley sold 566 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $48.66, for a total transaction of $27,541.56. Following the completion of the transaction, the chief financial officer now directly owns 963 shares in the company, valued at $46,859.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 43,189 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $48.55, for a total value of $2,096,825.95. Following the transaction, the chief executive officer now owns 107,454 shares of the company’s stock, valued at $5,216,891.70. The disclosure for this sale can be found here. Insiders sold 94,674 shares of company stock valued at $4,655,846 over the last three months. 0.58% of the stock is owned by company insiders.
Large investors have recently made changes to their positions in the company. Benjamin F. Edwards & Company Inc. increased its stake in shares of First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock valued at $104,000 after buying an additional 950 shares in the last quarter. Fiduciary Trust Co. acquired a new stake in shares of First Solar in the second quarter valued at $128,000. NEXT Financial Group Inc increased its stake in shares of First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock valued at $201,000 after buying an additional 975 shares in the last quarter. Parsec Financial Management Inc. acquired a new stake in shares of First Solar in the second quarter valued at $204,000. Finally, Garner Asset Management Corp acquired a new stake in shares of First Solar in the second quarter valued at $208,000. Institutional investors own 53.60% of the company’s stock.
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.
To view Vetr’s full report, visit Vetr’s official website.
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