First Solar, Inc. (NASDAQ:FSLR) Receives Consensus Rating of "Moderate Buy" from Analysts

Key Points

• Analyst sentiment is moderately bullish: 36 brokerages give First Solar a consensus “Moderate Buy” rating, with an average 12-month price target of $266.27. The ratings include 21 buys, 12 holds, two sells and one strong buy.
• Recent earnings exceeded expectations: First Solar reported quarterly EPS of $3.92 versus the $2.90 consensus estimate, while revenue reached $1.06 billion. However, revenue declined 3.4% year over year.
• Institutional ownership remains high, while insiders have sold shares: Hedge funds and other institutions own 92.08% of the stock, while insiders sold 15,881 shares worth $3.62 million over the past 90 days. Shares opened at $204.45, below their 50-day and 200-day moving averages.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirty-six brokerages that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell rating, twelve have issued a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $266.2697.

A number of research analysts recently weighed in on the stock. Evercore restated a "positive" rating and issued a $218.00 price objective on shares of First Solar in a report on Monday, August 17th. Deutsche Bank Aktiengesellschaft lowered shares of First Solar from a "buy" rating to a "hold" rating in a report on Thursday, August 27th. TD Cowen reissued a "buy" rating on shares of First Solar in a research report on Monday, July 20th. Citigroup cut shares of First Solar from a "buy" rating to a "hold" rating in a research report on Thursday, August 27th. Finally, BMO Capital Markets downgraded shares of First Solar from a "hold" rating to a "market perform" rating in a research note on Thursday, August 27th.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 3,425 shares of the company's stock in a transaction dated Monday, August 3rd. The stock was sold at an average price of $218.95, for a total transaction of $749,903.75. Following the sale, the chief technology officer owned 7,471 shares in the company, valued at $1,635,775.45. This represents a 31.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Samantha L. Sloan sold 127 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $222.95, for a total value of $28,314.65. Following the completion of the sale, the executive vice president directly owned 2,018 shares in the company, valued at $449,913.10. This represents a 5.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 15,881 shares of company stock valued at $3,617,086. 0.39% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

Large investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA raised its stake in First Solar by 29.3% in the first quarter. Pictet Asset Management Holding SA now owns 1,138,473 shares of the solar cell manufacturer's stock valued at $224,540,000 after buying an additional 258,204 shares in the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of First Solar during the 2nd quarter worth about $4,019,000. Atlatl Advisers LLC acquired a new position in shares of First Solar during the 4th quarter worth about $1,697,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Solar by 1,054.3% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 52,219 shares of the solar cell manufacturer's stock worth $13,641,000 after acquiring an additional 47,695 shares in the last quarter. Finally, Genus Capital Management Inc. purchased a new position in shares of First Solar in the 4th quarter valued at about $4,525,000. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Trading Down 1.4%

FSLR opened at $204.45 on Friday. The stock's 50-day moving average price is $218.77 and its 200 day moving average price is $222.64. First Solar has a 12-month low of $182.99 and a 12-month high of $320.95. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of 12.60, a PEG ratio of 0.55 and a beta of 1.74.

First Solar (NASDAQ:FSLR - Get Free Report) last released its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, beating the consensus estimate of $2.90 by $1.02. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.First Solar's revenue was down 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $3.18 EPS. On average, research analysts forecast that First Solar will post 17.77 earnings per share for the current year.

About First Solar

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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