First Solar (NASDAQ:FSLR) Downgraded by Jefferies Financial Group to “Hold”

Jefferies Financial Group cut shares of First Solar (NASDAQ:FSLR) from a buy rating to a hold rating in a research note published on Wednesday morning, MarketBeat.com reports. The firm currently has $127.00 price target on the solar cell manufacturer’s stock, down from their previous price target of $202.00.

Other equities analysts have also issued research reports about the stock. Roth Mkm reaffirmed a “buy” rating and issued a $280.00 price objective on shares of First Solar in a research note on Wednesday, February 26th. Robert W. Baird decreased their target price on First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Deutsche Bank Aktiengesellschaft set a $265.00 price objective on First Solar in a research note on Thursday, February 27th. Redburn Atlantic initiated coverage on First Solar in a research note on Monday, March 3rd. They set a “neutral” rating on the stock. Finally, Bank of America dropped their target price on First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $223.87.

First Solar Stock Up 3.1 %

Shares of First Solar stock opened at $130.54 on Wednesday. First Solar has a 12-month low of $116.56 and a 12-month high of $306.77. The firm has a market capitalization of $14.00 billion, a PE ratio of 11.24, a price-to-earnings-growth ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The stock’s fifty day moving average is $131.03 and its 200-day moving average is $166.38.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (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 quarter in the previous year, the firm posted $2.20 EPS. First Solar’s quarterly revenue was up 6.4% on a year-over-year basis. Equities analysts anticipate that First Solar will post 13.05 earnings per share for the current year.

Insider Activity

In related news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Mark R. Widmar sold 1,966 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now owns 111,890 shares of the company’s stock, valued at $14,965,287.50. This trade represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Virtu Financial LLC increased its position in First Solar by 38.5% during the third quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock worth $2,006,000 after acquiring an additional 2,235 shares during the period. Morse Asset Management Inc increased its holdings in shares of First Solar by 10.7% during the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock worth $3,105,000 after purchasing an additional 1,199 shares during the period. Blankinship & Foster LLC acquired a new position in shares of First Solar during the third quarter valued at about $935,000. Peapack Gladstone Financial Corp lifted its stake in shares of First Solar by 33.3% in the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock valued at $6,125,000 after buying an additional 6,135 shares during the period. Finally, Franklin Resources Inc. grew its position in First Solar by 10.4% during the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock worth $32,835,000 after buying an additional 12,439 shares in the last quarter. 92.08% of the stock is owned by 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.