First Solar (NASDAQ:FSLR) Receives New Coverage from Analysts at DZ Bank

DZ Bank began coverage on shares of First Solar (NASDAQ:FSLR) in a report published on Wednesday morning, Marketbeat Ratings reports. The firm issued a buy rating and a $205.00 price objective on the solar cell manufacturer’s stock.

Other equities research analysts have also issued reports about the stock. Bank of America upped their price target on shares of First Solar from $187.00 to $194.00 and gave the company a buy rating in a report on Wednesday, April 10th. Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They set a buy rating and a $236.00 target price on the stock. Mizuho lifted their price target on First Solar from $188.00 to $196.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Wells Fargo & Company downgraded First Solar from an overweight rating to an equal weight rating and decreased their price target for the company from $215.00 to $187.00 in a report on Monday, January 8th. Finally, Oppenheimer lifted their target price on shares of First Solar from $268.00 to $269.00 and gave the company an outperform rating in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus target price of $229.68.

First Solar Stock Up 0.4 %

Shares of FSLR stock opened at $175.04 on Wednesday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The firm has a market capitalization of $18.74 billion, a PE ratio of 22.61, a P/E/G ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The stock’s 50-day simple moving average is $161.34 and its 200-day simple moving average is $156.18.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. First Solar’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) EPS. Equities analysts expect that First Solar will post 13.55 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 over the last quarter. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several large investors have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of First Solar by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after purchasing an additional 20,946 shares during the period. Assenagon Asset Management S.A. boosted its holdings in First Solar by 504.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after purchasing an additional 333,496 shares during the last quarter. Sora Investors LLC increased its holdings in shares of First Solar by 63.6% during the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after buying an additional 35,000 shares during the last quarter. Vanguard Group Inc. raised its position in shares of First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after buying an additional 279,424 shares during the period. Finally, Bull Oak Capital LLC lifted its holdings in First Solar by 304,592.2% in the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after acquiring an additional 155,342 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.