First Solar, Inc. (NASDAQ:FSLR) Given Consensus Recommendation of “Moderate Buy” by Brokerages

First Solar, Inc. (NASDAQ:FSLR) has received an average recommendation of “Moderate Buy” from the thirty-two ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, twelve have assigned a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $247.4007.

A number of brokerages have recently issued reports on FSLR. Robert W. Baird reiterated a “neutral” rating and set a $205.00 target price (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Morgan Stanley cut their target price on shares of First Solar from $275.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, April 28th. BMO Capital Markets lowered their price objective on shares of First Solar from $252.00 to $237.00 and set a “market perform” rating for the company in a research report on Monday, April 20th. Deutsche Bank Aktiengesellschaft downgraded shares of First Solar from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $300.00 to $245.00 in a research report on Wednesday, February 25th. Finally, Wolfe Research downgraded shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th.

First Solar Price Performance

Shares of First Solar stock opened at $318.25 on Thursday. First Solar has a 1-year low of $135.50 and a 1-year high of $320.95. The firm’s 50-day moving average price is $220.44 and its two-hundred day moving average price is $232.39. The stock has a market capitalization of $34.20 billion, a price-to-earnings ratio of 20.56, a P/E/G ratio of 0.69 and a beta of 1.71. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period in the prior year, the business earned $1.95 earnings per share. First Solar’s quarterly revenue was up 23.6% on a year-over-year basis. On average, equities analysts predict that First Solar will post 17.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of First Solar stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total value of $1,800,971.64. Following the completion of the transaction, the general counsel owned 9,850 shares of the company’s stock, valued at $1,966,257. This trade represents a 47.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the completion of the transaction, the chief executive officer directly owned 95,148 shares of the company’s stock, valued at approximately $22,189,465.08. This trade represents a 9.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 76,480 shares of company stock worth $16,668,515. Corporate insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Aventura Private Wealth LLC bought a new stake in shares of First Solar during the 4th quarter worth about $25,000. Commonwealth Retirement Investments LLC acquired a new stake in First Solar in the 4th quarter worth about $26,000. Reflection Asset Management acquired a new position in shares of First Solar in the 4th quarter valued at approximately $26,000. Strategic Wealth Investment Group LLC acquired a new position in shares of First Solar in the 2nd quarter valued at approximately $26,000. Finally, Larson Financial Group LLC raised its position in shares of First Solar by 117.0% in the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after buying an additional 55 shares in the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.