First Solar (NASDAQ:FSLR) Shares Up 1.3% – Still a Buy?

Shares of First Solar, Inc. (NASDAQ:FSLR) shot up 1.3% during mid-day trading on Friday . The stock traded as high as $130.16 and last traded at $130.08. 650,093 shares changed hands during trading, a decline of 75% from the average session volume of 2,550,913 shares. The stock had previously closed at $128.46.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Roth Mkm restated a “buy” rating and issued a $280.00 target price on shares of First Solar in a research note on Wednesday, February 26th. Redburn Atlantic assumed coverage on shares of First Solar in a research note on Monday, March 3rd. They issued a “neutral” rating for the company. Citigroup lowered their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research note on Wednesday, February 26th. Bank of America lowered their target price on shares of First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a research note on Tuesday, January 28th. Finally, Morgan Stanley lowered their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Four investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.08.

First Solar Stock Up 1.3 %

The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The business’s fifty day simple moving average is $157.42 and its two-hundred day simple moving average is $188.89. The company has a market cap of $13.93 billion, a PE ratio of 11.18, a PEG ratio of 0.19 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data 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). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. On average, analysts predict that First Solar, Inc. will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 380 shares of the business’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 $50,825.00. Following the transaction, the chief technology officer now directly owns 17,594 shares in the company, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Mark R. Widmar sold 1,966 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $262,952.50. Following the transaction, the chief executive officer now owns 111,890 shares in the company, valued at $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. Empowered Funds LLC boosted its position in First Solar by 404.0% during the third quarter. Empowered Funds LLC now owns 7,404 shares of the solar cell manufacturer’s stock worth $1,847,000 after acquiring an additional 5,935 shares during the last quarter. Prospera Financial Services Inc boosted its position in First Solar by 52.5% during the third quarter. Prospera Financial Services Inc now owns 2,037 shares of the solar cell manufacturer’s stock worth $508,000 after acquiring an additional 701 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in First Solar in the 3rd quarter valued at about $4,053,000. PNC Financial Services Group Inc. boosted its holdings in First Solar by 5.3% in the 3rd quarter. PNC Financial Services Group Inc. now owns 15,422 shares of the solar cell manufacturer’s stock valued at $3,847,000 after purchasing an additional 777 shares during the last quarter. Finally, Jennison Associates LLC boosted its holdings in First Solar by 32.7% in the 3rd quarter. Jennison Associates LLC now owns 48,289 shares of the solar cell manufacturer’s stock valued at $12,045,000 after purchasing an additional 11,894 shares during the last quarter. 92.08% of the stock is currently 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.