First Solar, Inc. (NASDAQ:FSLR) Receives $262.08 Consensus Price Target from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have been assigned a consensus rating of “Moderate Buy” from the twenty-eight ratings firms 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 issued a strong buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is $262.08.

Several equities research analysts recently issued reports on FSLR shares. BMO Capital Markets reissued an “outperform” rating and set a $230.00 price objective (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. Truist Financial restated a “buy” rating and set a $285.00 price target (down from $300.00) on shares of First Solar in a research report on Wednesday, February 26th. Morgan Stanley dropped their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a 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 report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft set a $265.00 price target on First Solar in a research note on Thursday, February 27th.

First Solar Trading Down 0.7 %

NASDAQ:FSLR opened at $126.43 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 stock has a market capitalization of $13.54 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar has a 12 month low of $120.60 and a 12 month high of $306.77. The firm’s 50 day moving average is $148.95 and its 200 day moving average is $184.01.

First Solar (NASDAQ:FSLR) last posted its earnings results 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). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.48 billion. Sell-side analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, CEO Mark R. Widmar sold 21,542 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was 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 directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Markus Gloeckler sold 380 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $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. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 in the last three months. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in 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 worth $2,259,697,000 after acquiring an additional 120,289 shares during the last quarter. State Street Corp raised its stake in 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 buying an additional 108,984 shares in the last quarter. Geode Capital Management LLC boosted its position in First Solar by 2.4% during 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 in the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock worth $415,899,000 after buying an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock valued at $323,410,000 after purchasing an additional 223,933 shares during the last quarter. 92.08% of the stock is owned by institutional investors.

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.