First Solar (NASDAQ:FSLR) had its target price lifted by research analysts at Raymond James from $56.00 to $62.00 in a report released on Thursday, BenzingaRatingsTable reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Raymond James’ price target would suggest a potential upside of 7.84% from the stock’s previous close.
FSLR has been the subject of several other reports. Oppenheimer restated a “hold” rating on shares of First Solar in a report on Friday, May 8th. Robert W. Baird increased their price target on shares of First Solar from $48.00 to $60.00 and gave the stock an “outperform” rating in a research note on Friday, May 8th. Roth Capital cut their price objective on First Solar from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Bank of America upgraded First Solar from an “underperform” rating to a “neutral” rating and reduced their target price for the stock from $54.00 to $38.00 in a report on Tuesday, March 31st. Finally, Credit Suisse Group lowered their target price on First Solar from $56.00 to $54.00 and set a “neutral” rating for the company in a research note on Friday, May 1st. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.50.
Shares of NASDAQ:FSLR opened at $57.49 on Thursday. The stock’s 50-day moving average is $49.29 and its 200 day moving average is $47.03. The company has a market cap of $6.06 billion, a PE ratio of 19.19, a P/E/G ratio of 1.81 and a beta of 1.26. The company has a debt-to-equity ratio of 0.08, a current ratio of 3.75 and a quick ratio of 3.10. First Solar has a 1 year low of $28.47 and a 1 year high of $69.24.
First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, May 7th. The solar cell manufacturer reported $0.85 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.61. The firm had revenue of $532.00 million for the quarter, compared to analysts’ expectations of $560.05 million. First Solar had a return on equity of 6.13% and a net margin of 1.42%. The business’s revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.64) earnings per share. Analysts expect that First Solar will post 2.86 EPS for the current fiscal year.
In other First Solar news, CFO Alexander R. Bradley sold 8,817 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.01, for a total transaction of $379,219.17. Following the transaction, the chief financial officer now owns 19,549 shares in the company, valued at approximately $840,802.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Raffi Garabedian sold 15,016 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $43.01, for a total transaction of $645,838.16. Following the sale, the chief technology officer now directly owns 3,255 shares in the company, valued at approximately $139,997.55. The disclosure for this sale can be found here. Insiders sold a total of 32,654 shares of company stock worth $1,466,458 over the last ninety days. 0.54% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the stock. Verus Capital Partners LLC purchased a new stake in First Solar in the fourth quarter worth approximately $28,000. Chevy Chase Trust Holdings Inc. purchased a new stake in First Solar during the 4th quarter valued at $43,000. Banco de Sabadell S.A bought a new position in shares of First Solar during the 1st quarter valued at $32,000. Parallel Advisors LLC boosted its stake in shares of First Solar by 195.9% in the 1st quarter. Parallel Advisors LLC now owns 1,145 shares of the solar cell manufacturer’s stock worth $41,000 after buying an additional 758 shares during the last quarter. Finally, Ellevest Inc. purchased a new position in shares of First Solar in the 1st quarter worth $56,000. Institutional investors own 59.51% of the company’s stock.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.
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