Guggenheim reissued their neutral rating on shares of First Solar (NASDAQ:FSLR) in a research note released on Thursday morning, MarketBeat Ratings reports. The analysts noted that the move was a valuation call.
A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of First Solar from a hold rating to a buy rating and set a $76.00 price target on the stock in a report on Tuesday, January 2nd. Vetr upgraded shares of First Solar from a sell rating to a hold rating and set a $66.50 price target on the stock in a report on Thursday, December 14th. Goldman Sachs Group reiterated a neutral rating and set a $65.00 price target (up previously from $50.00) on shares of First Solar in a report on Thursday, November 30th. Finally, Cowen reiterated an outperform rating and set a $77.00 price target (up previously from $60.00) on shares of First Solar in a report on Wednesday, December 6th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the stock. First Solar presently has an average rating of Hold and a consensus price target of $63.13.
Shares of First Solar (FSLR) opened at $70.03 on Thursday. First Solar has a fifty-two week low of $25.56 and a fifty-two week high of $76.61. The company has a current ratio of 6.85, a quick ratio of 6.47 and a debt-to-equity ratio of 0.06. The company has a market cap of $7,310.00, a P/E ratio of -16.83 and a beta of 2.04.
First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion for the quarter, compared to analysts’ expectations of $859.22 million. During the same quarter in the prior year, the company posted $1.22 earnings per share. The business’s revenue for the quarter was up 59.5% on a year-over-year basis. sell-side analysts forecast that First Solar will post 2.52 EPS for the current year.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction that occurred on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the transaction, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Philip Dejong sold 15,304 shares of the stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $67.83, for a total transaction of $1,038,070.32. Following the completion of the transaction, the chief operating officer now owns 10,424 shares in the company, valued at $707,059.92. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock worth $3,134,015 over the last quarter. Insiders own 0.58% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. CAPROCK Group Inc. bought a new position in First Solar in the fourth quarter worth approximately $259,000. Community Financial Services Group LLC bought a new position in First Solar in the fourth quarter worth approximately $239,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in First Solar by 64.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after acquiring an additional 1,716 shares during the period. State of Alaska Department of Revenue bought a new position in First Solar in the fourth quarter worth approximately $324,000. Finally, Garner Asset Management Corp bought a new position in First Solar in the second quarter worth approximately $208,000. Institutional investors and hedge funds own 50.62% 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.
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