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

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Buy” by the twenty-three analysts that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation, eleven have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $71.83.

Several research firms recently issued reports on FSLR. ValuEngine raised First Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, April 2nd. UBS began coverage on First Solar in a research note on Thursday, March 15th. They set a “buy” rating and a $81.00 price objective for the company. BidaskClub raised First Solar from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 9th. Standpoint Research raised First Solar from a “hold” rating to an “accumulate” rating and set a $84.00 price objective for the company in a research note on Wednesday, March 7th. Finally, Deutsche Bank set a $75.00 price objective on First Solar and gave the company a “buy” rating in a research note on Friday, February 23rd.

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NASDAQ:FSLR traded up $1.79 during trading hours on Wednesday, hitting $71.49. 543,952 shares of the company’s stock traded hands, compared to its average volume of 1,867,932. The firm has a market capitalization of $7,301.51, a price-to-earnings ratio of 27.64, a P/E/G ratio of 4.15 and a beta of 1.96. First Solar has a 52 week low of $26.41 and a 52 week high of $76.61. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.63 and a current ratio of 5.89.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Thursday, February 22nd. The solar cell manufacturer reported ($0.25) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.31) by $0.06. The company had revenue of $339.00 million during the quarter, compared to analyst estimates of $459.93 million. First Solar had a positive return on equity of 5.17% and a negative net margin of 5.63%. The firm’s quarterly revenue was down 29.4% on a year-over-year basis. During the same quarter last year, the company earned $1.24 earnings per share. equities analysts forecast that First Solar will post 1.66 earnings per share for the current fiscal year.

In other news, insider Georges Antoun sold 1,220 shares of First Solar stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $68.25, for a total value of $83,265.00. Following the transaction, the insider now owns 86,012 shares in the company, valued at $5,870,319. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 20,574 shares of First Solar stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $63.90, for a total value of $1,314,678.60. Following the completion of the transaction, the chief executive officer now owns 78,634 shares in the company, valued at approximately $5,024,712.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,457 shares of company stock worth $2,004,033. Company insiders own 0.58% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. OppenheimerFunds Inc. increased its holdings in shares of First Solar by 254.0% in the fourth quarter. OppenheimerFunds Inc. now owns 1,012,954 shares of the solar cell manufacturer’s stock worth $68,395,000 after buying an additional 726,830 shares during the period. Geode Capital Management LLC increased its holdings in shares of First Solar by 3.8% in the fourth quarter. Geode Capital Management LLC now owns 757,176 shares of the solar cell manufacturer’s stock worth $51,124,000 after buying an additional 27,763 shares during the period. Renaissance Technologies LLC increased its holdings in shares of First Solar by 468.1% in the fourth quarter. Renaissance Technologies LLC now owns 656,700 shares of the solar cell manufacturer’s stock worth $44,340,000 after buying an additional 541,100 shares during the period. Millennium Management LLC increased its holdings in shares of First Solar by 12.2% in the fourth quarter. Millennium Management LLC now owns 520,684 shares of the solar cell manufacturer’s stock worth $35,157,000 after buying an additional 56,716 shares during the period. Finally, Cornerstone Capital Management Holdings LLC. increased its holdings in shares of First Solar by 19.3% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 447,219 shares of the solar cell manufacturer’s stock worth $30,194,000 after buying an additional 72,425 shares during the period. Hedge funds and other institutional investors own 53.36% of the company’s stock.

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About First Solar

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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