First Solar, Inc. (NASDAQ:FSLR) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• First Solar currently has a consensus analyst rating of “Moderate Buy” from 33 research firms, with an average 12-month price target of about $249.78.
• Recent analyst updates were mixed: Barclays and Wells Fargo cut price targets, while Needham raised its target and kept a buy rating; Wolfe Research downgraded the stock to hold.
• The company posted better-than-expected Q1 results, with EPS of $3.22 versus estimates of $2.87 and revenue up 23.6% year over year, even as insiders sold shares and institutional ownership remained high at 92.08%.

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirty-three research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $249.7793.

Several analysts recently issued reports on FSLR shares. Barclays reduced their price objective on shares of First Solar from $228.00 to $213.00 and set an "overweight" rating on the stock in a report on Monday, April 20th. Wells Fargo & Company dropped their price objective on First Solar from $285.00 to $255.00 and set an "overweight" rating on the stock in a report on Thursday, February 26th. Needham & Company LLC raised their target price on First Solar from $286.00 to $303.00 and gave the stock a "buy" rating in a research report on Monday, February 23rd. Royal Bank Of Canada lowered their price target on First Solar from $258.00 to $236.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Finally, Wolfe Research lowered shares of First Solar from a "strong-buy" rating to a "hold" rating in a research note on Thursday, February 26th.

Insiders Place Their Bets

In other First Solar news, General Counsel Jason E. Dymbort sold 409 shares of First Solar stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $88,192.67. Following the completion of the sale, the general counsel owned 10,409 shares in the company, valued at $2,244,492.67. The trade was a 3.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Kuntal Kumar Verma sold 582 shares of the stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the transaction, the insider owned 4,967 shares in the company, valued at approximately $1,241,750. The trade was a 10.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 32,466 shares of company stock worth $8,014,105. Corporate insiders own 0.39% of the company's stock.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Woodline Partners LP increased its stake in shares of First Solar by 40.7% in the first quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer's stock worth $1,143,000 after buying an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC lifted its position in First Solar by 50.9% in the second quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer's stock worth $85,000 after purchasing an additional 174 shares during the period. Brown Advisory Inc. boosted its stake in First Solar by 84.3% during the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer's stock valued at $750,000 after purchasing an additional 2,072 shares in the last quarter. Cerity Partners LLC bought a new position in First Solar during the 2nd quarter valued at $494,000. Finally, AXA S.A. grew its holdings in shares of First Solar by 6.3% during the 2nd quarter. AXA S.A. now owns 18,862 shares of the solar cell manufacturer's stock valued at $3,122,000 after acquiring an additional 1,115 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Stock Performance

NASDAQ FSLR opened at $257.70 on Monday. The company's 50-day simple moving average is $238.53 and its two-hundred day simple moving average is $233.23. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.15 and a current ratio of 2.56. The company has a market capitalization of $27.69 billion, a price-to-earnings ratio of 16.65, a price-to-earnings-growth ratio of 0.57 and a beta of 1.70. First Solar has a one year low of $139.26 and a one year high of $320.95.

First Solar (NASDAQ:FSLR - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.03 billion. During the same period in the previous year, the company posted $1.95 EPS. The business's revenue for the quarter was up 23.6% compared to the same quarter last year. Equities analysts forecast that First Solar will post 17.61 EPS for the current fiscal 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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