First Solar (NASDAQ:FSLR) Now Covered by Analysts at William Blair

William Blair initiated coverage on shares of First Solar (NASDAQ:FSLR) in a report published on Thursday, Marketbeat Ratings reports. The firm issued a market perform rating on the solar cell manufacturer’s stock.

Other research analysts have also issued reports about the stock. Jefferies Financial Group lifted their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Deutsche Bank Aktiengesellschaft boosted their price target on First Solar from $215.00 to $280.00 and gave the company a buy rating in a research report on Friday, June 28th. Mizuho reaffirmed a neutral rating and set a $274.00 price objective (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Susquehanna boosted their target price on First Solar from $258.00 to $285.00 and gave the company a positive rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada restated an outperform rating and set a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $275.36.

First Solar Stock Down 2.4 %

Shares of NASDAQ:FSLR opened at $223.10 on Thursday. The company has a current ratio of 2.23, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The firm has a 50 day simple moving average of $225.06 and a 200-day simple moving average of $204.50. The company has a market capitalization of $23.88 billion, a PE ratio of 23.39, a P/E/G ratio of 0.37 and a beta of 1.44. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the previous year, the company earned $1.85 earnings per share. First Solar’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, equities analysts predict that First Solar will post 13.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The disclosure for this sale can be found here. In the last three months, insiders sold 12,506 shares of company stock valued at $2,827,217. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the 4th quarter valued at $27,000. Atlas Capital Advisors LLC boosted its position in First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after purchasing an additional 111 shares during the period. Riverview Trust Co acquired a new stake in First Solar in the 1st quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new position in First Solar in the second quarter valued at about $36,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.