First Solar, Inc. (FSLR) Receives $64.00 Average PT from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given a consensus recommendation of “Hold” by the twenty-five ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $64.00.

FSLR has been the subject of a number of recent analyst reports. Roth Capital reiterated a “buy” rating and issued a $60.00 price objective on shares of First Solar in a report on Tuesday, September 26th. Zacks Investment Research upgraded First Solar from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Monday, October 2nd. Vetr downgraded First Solar from a “strong-buy” rating to a “buy” rating and set a $51.52 price objective for the company. in a report on Wednesday, October 18th. Needham & Company LLC upgraded First Solar from a “hold” rating to a “buy” rating and set a $60.00 price objective for the company in a report on Friday, October 27th. Finally, ValuEngine downgraded First Solar from a “strong-buy” rating to a “buy” rating in a report on Friday, December 1st.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the stock in a transaction dated Thursday, December 7th. The stock was sold at an average price of $64.40, for a total value of $1,305,388.00. Following the completion of the sale, the chief executive officer now directly owns 100,754 shares in the company, valued at $6,488,557.60. The sale was disclosed in a 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 dated Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the sale, the chief operating officer now owns 10,424 shares of the company’s stock, valued at $707,059.92. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. CAPROCK Group Inc. bought a new stake in shares of First Solar in the fourth quarter worth about $259,000. Community Financial Services Group LLC bought a new stake in shares of First Solar in the fourth quarter worth about $239,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of 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 in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of First Solar in the fourth quarter worth about $324,000. Finally, Garner Asset Management Corp bought a new stake in shares of First Solar in the second quarter worth about $208,000. Institutional investors own 50.62% of the company’s stock.

First Solar (NASDAQ:FSLR) traded down $1.07 during mid-day trading on Friday, hitting $68.96. The stock had a trading volume of 1,906,188 shares, compared to its average volume of 2,168,564. The company has a market capitalization of $7,200.00, a P/E ratio of -16.58 and a beta of 2.04. First Solar has a 12 month low of $25.56 and a 12 month 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.

First Solar (NASDAQ:FSLR) last released its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $1.11. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.22 earnings per share. analysts predict that First Solar will post 2.52 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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