First Solar, Inc. (NASDAQ:FSLR) Stock Has Consensus Price Target of $265.73

Key Points

• Analysts maintain a Moderate Buy consensus on First Solar, with 23 buy, two strong-buy, 10 hold and two sell ratings among 37 firms. The average 12-month price target is $265.73, although several brokerages recently lowered their targets.
• First Solar reported quarterly EPS of $3.92, exceeding the $2.90 consensus estimate, while revenue reached $1.06 billion. Analysts expect full-year EPS of approximately $17.63, but revenue declined 3.4% year over year.
• The stock opened at $171.99, near its 12-month low of $168.60 and below its 50- and 200-day moving averages. Insiders sold $3.76 million of shares over the past 90 days, while institutional investors own 92.08% of the company.

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) have been assigned an average rating of "Moderate Buy" from the thirty-seven ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $265.73.

FSLR has been the subject of a number of recent research reports. Glj Research cut their target price on First Solar from $315.00 to $250.00 and set a "buy" rating for the company in a research note on Tuesday, September 22nd. HSBC upgraded shares of First Solar from a "hold" rating to a "buy" rating in a research note on Friday, August 7th. Barclays lowered their price target on shares of First Solar from $279.00 to $259.00 and set an "overweight" rating on the stock in a report on Thursday, October 15th. Jefferies Financial Group restated a "hold" rating and issued a $199.00 price objective on shares of First Solar in a research note on Friday, October 16th. Finally, Robert W. Baird dropped their price objective on shares of First Solar from $318.00 to $290.00 and set an "outperform" rating for the company in a research note on Tuesday, September 22nd.

Insider Buying and Selling at First Solar

In related news, EVP Samantha Sloan sold 127 shares of the company's 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 sale, the executive vice president owned 2,018 shares of the company's stock, valued at $449,913.10. The trade was a 5.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, General Counsel Jason Dymbort sold 3,700 shares of the company's stock in a transaction dated Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total transaction of $922,706.00. Following the completion of the sale, the general counsel directly owned 5,624 shares in the company, valued at approximately $1,402,513.12. The trade was a 39.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 16,681 shares of company stock valued at $3,756,286 in the last 90 days. Insiders own 0.39% of the company's stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of FSLR. Apollon Wealth Management LLC raised its holdings in shares of First Solar by 891.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 37,308 shares of the solar cell manufacturer's stock worth $6,535,000 after buying an additional 33,544 shares in the last quarter. Slow Capital Inc. lifted its position in shares of First Solar by 94.3% during the 3rd quarter. Slow Capital Inc. now owns 15,124 shares of the solar cell manufacturer's stock worth $2,649,000 after buying an additional 7,340 shares during the period. Signaturefd LLC lifted its position in shares of First Solar by 22.6% during the 3rd quarter. Signaturefd LLC now owns 2,438 shares of the solar cell manufacturer's stock worth $427,000 after buying an additional 449 shares during the period. Citizens Financial Group Inc. RI lifted its position in shares of First Solar by 0.9% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 24,438 shares of the solar cell manufacturer's stock worth $4,281,000 after buying an additional 226 shares during the period. Finally, Manchester Capital Management LLC boosted its stake in First Solar by 46.2% in the 3rd quarter. Manchester Capital Management LLC now owns 478 shares of the solar cell manufacturer's stock valued at $84,000 after buying an additional 151 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

First Solar Stock Up 0.4%

First Solar stock opened at $171.99 on Friday. The business has a 50 day moving average price of $192.86 and a two-hundred day moving average price of $218.21. First Solar has a 12 month low of $168.60 and a 12 month high of $320.95. The stock has a market cap of $18.48 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 0.47 and a beta of 1.80.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share for the quarter, topping the consensus estimate of $2.90 by $1.02. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates 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 for the quarter was down 3.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.18 EPS. On average, analysts expect that First Solar will post 17.63 earnings per share for the current fiscal year.

First Solar News Summary

Here are the key news stories impacting First Solar this week:

• Positive Sentiment: BMO Capital issued a Buy rating on First Solar, providing a constructive analyst signal that may support investor confidence in the company’s long-term growth prospects. First Solar Gets a Buy from BMO Capital
• Positive Sentiment: Analysts and investors are focused on whether U.S. demand for domestically manufactured solar panels is strengthening. Firm domestic demand could benefit First Solar’s production utilization and revenue outlook. Is Domestic Panel Demand Firming for First Solar?
• Neutral Sentiment: First Solar is scheduled to report quarterly earnings, making the upcoming results, management guidance and commentary on demand key near-term catalysts. First Solar Projected to Announce Quarterly Earnings
• Neutral Sentiment: Investor attention has increased, with First Solar appearing among trending stocks. The heightened visibility could increase trading activity but does not itself change the company’s fundamentals. First Solar Is a Trending Stock
• Neutral Sentiment: Coverage is also highlighting First Solar’s substantial cash position, which may provide financial flexibility for expansion and help cushion periods of industry volatility. Should You Buy First Solar Stock For Its Cash?
• Negative Sentiment: Zacks reported that First Solar underperformed the broader market in the latest session, reflecting near-term selling pressure. First Solar Declines More Than the Market
• Negative Sentiment: Pre-earnings analysis says First Solar lacks the combination of earnings-estimate revisions and surprise indicators typically associated with a likely earnings beat. That raises the risk of a cautious reaction if results or guidance disappoint. First Solar Earnings Expected to Grow

About First Solar

First Solar, Inc is a vertically integrated solar technology and manufacturing company that designs, manufactures and sells photovoltaic (PV) solar modules. Its modules use advanced thin-film semiconductor technology based on cadmium telluride (CdTe), rather than the crystalline-silicon technology used by most solar manufacturers. The company serves utility-scale solar developers, commercial and industrial customers, and other large-scale energy users.

Founded in 1999 and headquartered in Tempe, Arizona, First Solar operates research and development, manufacturing and recycling facilities in the United States and internationally.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.