First Solar, Inc. (NASDAQ:FSLR) Receives Average Rating of “Moderate Buy” from Brokerages

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Moderate Buy” by the twenty-eight brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, twenty-three have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $260.42.

Several research firms have recently weighed in on FSLR. Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Guggenheim reduced their price target on shares of First Solar from $335.00 to $304.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. JPMorgan Chase & Co. decreased their price objective on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Piper Sandler cut their target price on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Finally, StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 229 shares of the firm’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 value of $30,628.75. Following the sale, the insider now owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $50,825.00. Following the transaction, the chief technology officer now owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. The trade was a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several hedge funds have recently bought and sold shares of FSLR. Whalen Wealth Management Inc. increased its stake in shares of First Solar by 47.0% in the fourth quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer’s stock valued at $856,000 after purchasing an additional 1,554 shares during the period. Allspring Global Investments Holdings LLC raised its stake in First Solar by 665.8% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer’s stock valued at $7,308,000 after acquiring an additional 34,074 shares in the last quarter. Stifel Financial Corp boosted its position in First Solar by 36.9% during the 3rd quarter. Stifel Financial Corp now owns 21,446 shares of the solar cell manufacturer’s stock worth $5,350,000 after acquiring an additional 5,780 shares during the period. Paragon Capital Management Inc. bought a new position in shares of First Solar in the fourth quarter worth $1,240,000. Finally, Robeco Institutional Asset Management B.V. increased its holdings in shares of First Solar by 9.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer’s stock valued at $104,910,000 after purchasing an additional 49,074 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Price Performance

FSLR opened at $128.69 on Friday. First Solar has a 1 year low of $120.60 and a 1 year high of $306.77. The company’s 50 day simple moving average is $145.44 and its 200 day simple moving average is $181.88. The stock has a market capitalization of $13.78 billion, a PE ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing the consensus estimate of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, sell-side analysts expect that First Solar will post 13.05 EPS for the current year.

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.