First Solar, Inc. (FSLR) Receives Consensus Rating of “Hold” from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned an average recommendation of “Hold” from the twenty-six brokerages that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $49.72.

Several research firms have issued reports on FSLR. BidaskClub raised First Solar from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. JMP Securities set a $67.00 target price on First Solar and gave the stock a “buy” rating in a research note on Wednesday, August 16th. TheStreet raised First Solar from a “d+” rating to a “c” rating in a research note on Wednesday, July 19th. Vetr cut First Solar from a “buy” rating to a “sell” rating and set a $46.69 target price for the company. in a research note on Monday, July 31st. Finally, ValuEngine upgraded First Solar from a “hold” rating to a “buy” rating in a research report on Friday, August 11th.

In other First Solar news, CFO Alexander R. Bradley sold 566 shares of First Solar stock in a transaction dated 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 sale, the chief financial officer now directly owns 963 shares of the company’s stock, valued at approximately $46,859.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.58% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Clear Harbor Asset Management LLC increased its position in shares of First Solar by 0.5% during the second quarter. Clear Harbor Asset Management LLC now owns 17,145 shares of the solar cell manufacturer’s stock worth $716,000 after purchasing an additional 80 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of First Solar by 0.5% during the second quarter. Daiwa Securities Group Inc. now owns 24,125 shares of the solar cell manufacturer’s stock worth $962,000 after purchasing an additional 125 shares in the last quarter. Public Employees Retirement Association of Colorado increased its position in shares of First Solar by 1.1% during the second quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after purchasing an additional 165 shares in the last quarter. Intellectus Partners LLC increased its position in shares of First Solar by 1.2% during the second quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after purchasing an additional 200 shares in the last quarter. Finally, Amalgamated Bank increased its position in shares of First Solar by 1.9% during the first quarter. Amalgamated Bank now owns 12,030 shares of the solar cell manufacturer’s stock worth $326,000 after purchasing an additional 225 shares in the last quarter. Institutional investors and hedge funds own 53.10% of the company’s stock.

Shares of First Solar (FSLR) opened at $59.87 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The stock has a market capitalization of $6,252.40, a price-to-earnings ratio of 14.67 and a beta of 1.99. First Solar has a one year low of $25.56 and a one year high of $61.47.

First Solar (NASDAQ:FSLR) last posted 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. The company had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $859.22 million. First Solar had a positive return on equity of 8.07% and a negative net margin of 14.70%. The firm’s quarterly revenue was up 59.5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.22 earnings per share. equities analysts expect that First Solar will post 2.53 EPS for the current year.

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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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