First Solar (NASDAQ:FSLR) Lowered to “Market Perform” Rating by Oppenheimer

Oppenheimer lowered shares of First Solar (NASDAQ:FSLR) from an outperform rating to a market perform rating in a research note published on Wednesday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research report on Thursday, February 27th. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the company an “overweight” rating in a research note on Wednesday, April 23rd. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Finally, Susquehanna lowered their price objective on shares of First Solar from $223.00 to $217.00 and set a “positive” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, six have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, First Solar presently has an average rating of “Moderate Buy” and an average price target of $229.54.

First Solar Trading Down 8.3 %

NASDAQ:FSLR opened at $125.82 on Wednesday. The business’s 50-day moving average is $131.89 and its two-hundred day moving average is $167.45. The firm has a market capitalization of $13.49 billion, a PE ratio of 10.84, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. First Solar has a 12 month low of $116.56 and a 12 month high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. During the same period last year, the firm posted $2.20 earnings per share. The business’s revenue was up 6.4% on a year-over-year basis. Research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, CFO Alexander R. Bradley sold 599 shares of the business’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $80,116.25. Following the sale, the chief financial officer now owns 45,717 shares in the company, valued at $6,114,648.75. The trade was a 1.29 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,311 shares of company stock valued at $4,767,158. Company insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. SteelPeak Wealth LLC raised its stake in First Solar by 81.0% during the first quarter. SteelPeak Wealth LLC now owns 11,020 shares of the solar cell manufacturer’s stock worth $1,393,000 after buying an additional 4,933 shares during the last quarter. Robeco Schweiz AG boosted its position in shares of First Solar by 28.7% during the 1st quarter. Robeco Schweiz AG now owns 604,011 shares of the solar cell manufacturer’s stock valued at $76,365,000 after purchasing an additional 134,616 shares in the last quarter. Burford Brothers Inc. grew its position in shares of First Solar by 1.3% during the 1st quarter. Burford Brothers Inc. now owns 18,850 shares of the solar cell manufacturer’s stock worth $2,383,000 after buying an additional 245 shares during the period. Hunter Associates Investment Management LLC bought a new stake in First Solar in the first quarter valued at $272,000. Finally, Alps Advisors Inc. raised its stake in First Solar by 1.0% during the 1st quarter. Alps Advisors Inc. now owns 37,847 shares of the solar cell manufacturer’s stock worth $4,785,000 after buying an additional 364 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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.