First Solar, Inc. (NASDAQ:FSLR) Receives $222.01 Consensus Price Target from Brokerages

Key Points

• First Solar, Inc. has received a consensus recommendation of "Moderate Buy" from 31 analysts, with an average price target of $222.01 for the next twelve months.
• Insider Patrick James Buehler sold 1,868 shares at an average price of $149.08, resulting in a 23.75% decrease in his ownership of the stock.
• In its recent quarterly earnings, First Solar reported an EPS of $3.18, exceeding analyst forecasts and representing an 8.6% increase in year-over-year revenue.

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the thirty ratings firms that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $221.90.

Several equities research analysts recently weighed in on the company. Royal Bank Of Canada increased their price target on First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 target price for the company in a report on Thursday, May 1st. TD Cowen raised their price target on First Solar from $200.00 to $220.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp cut First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target for the company. in a research report on Wednesday, April 30th. Finally, Susquehanna lifted their price objective on First Solar from $203.00 to $222.00 and gave the stock a "positive" rating in a research report on Friday.

First Solar Stock Up 5.3%

Shares of FSLR stock traded up $9.24 during trading hours on Friday, reaching $183.97. 5,800,141 shares of the stock were exchanged, compared to its average volume of 2,634,193. The business's fifty day moving average is $165.81 and its two-hundred day moving average is $153.40. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. First Solar has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market capitalization of $19.73 billion, a P/E ratio of 15.74, a P/E/G ratio of 0.34 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The solar cell manufacturer reported $3.18 EPS for the quarter, beating the consensus estimate of $2.68 by $0.50. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.03 billion. First Solar had a net margin of 28.95% and a return on equity of 15.88%. The firm's revenue was up 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $3.25 earnings per share. As a group, research analysts expect that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Koralewski sold 2,951 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider owned 11,369 shares of the company's stock, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Patrick James Buehler sold 1,600 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $180.00, for a total value of $288,000.00. Following the transaction, the insider directly owned 4,398 shares in the company, valued at $791,640. This trade represents a 26.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,976 shares of company stock worth $2,515,172. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On First Solar

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of First Solar by 3.0% during the first quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer's stock valued at $1,668,919,000 after acquiring an additional 378,641 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 17.2% during the first quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer's stock valued at $349,617,000 after acquiring an additional 405,457 shares in the last quarter. Geode Capital Management LLC increased its position in shares of 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 acquiring an additional 63,739 shares in the last quarter. Invesco Ltd. increased its position in shares of First Solar by 32.3% during the first quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer's stock valued at $306,909,000 after acquiring an additional 592,444 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its position in shares of First Solar by 8.6% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,748,603 shares of the solar cell manufacturer's stock valued at $308,174,000 after acquiring an additional 137,901 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other 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.