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

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Moderate Buy” by the twenty-eight analysts that are covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $262.08.

Several equities analysts recently issued reports on FSLR shares. Robert W. Baird dropped their price target on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 18th. StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Mizuho raised shares of First Solar from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Roth Mkm restated a “buy” rating and set a $280.00 price objective on shares of First Solar in a research report on Wednesday, February 26th. Finally, Truist Financial restated a “buy” rating and issued a $285.00 price target (down from $300.00) on shares of First Solar in a research note on Wednesday, February 26th.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $50,825.00. Following the sale, the chief technology officer now owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised its stake in shares of First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares during the period. State Street Corp lifted its stake in shares of First Solar by 2.2% in the third quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer’s stock worth $1,236,383,000 after acquiring an additional 108,984 shares in the last quarter. Geode Capital Management LLC boosted its holdings in First Solar by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after purchasing an additional 63,739 shares during the last quarter. Wellington Management Group LLP grew its stake in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after purchasing an additional 262,482 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after purchasing an additional 223,933 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

FSLR stock opened at $127.32 on Friday. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a market capitalization of $13.63 billion, a P/E ratio of 10.97, a PEG ratio of 0.19 and a beta of 1.52. The business has a 50 day simple moving average of $150.28 and a 200-day simple moving average of $185.33. First Solar has a twelve month low of $124.32 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. As a group, equities analysts anticipate that First Solar will post 13.05 EPS for the current year.

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.