First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Sanford C. Bernstein

Key Points

• Sanford C. Bernstein upgraded First Solar to a “strong sell” rating, though the broader analyst view remains Moderate Buy with an average price target of $249.78.
• First Solar reported strong quarterly results, including EPS of $3.22 versus estimates of $2.87 and revenue of $1.04 billion, up 23.6% year over year.
• The stock recently traded at $254.80, above its 50-day and 200-day moving averages, while insiders sold shares and institutional investors continue to hold 92.08% of the company.

First Solar (NASDAQ:FSLR - Get Free Report) was upgraded by investment analysts at Sanford C. Bernstein to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

FSLR has been the topic of several other research reports. Susquehanna lowered their target price on shares of First Solar from $280.00 to $250.00 and set a "positive" rating on the stock in a research note on Thursday, April 9th. The Goldman Sachs Group upped their target price on shares of First Solar from $300.00 to $310.00 in a research note on Friday, May 1st. Zacks Research upgraded shares of First Solar from a "strong sell" rating to a "hold" rating in a research note on Monday, April 27th. TD Cowen lowered their target price on shares of First Solar from $320.00 to $253.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Finally, Evercore upped their target price on shares of First Solar from $212.00 to $219.00 in a research note on Monday, May 4th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $249.78.

First Solar Stock Performance

Shares of FSLR stock opened at $254.80 on Tuesday. First Solar has a 12 month low of $139.26 and a 12 month high of $320.95. The stock has a market cap of $27.38 billion, a PE ratio of 16.46, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The company's fifty day moving average price is $236.08 and its 200-day moving average price is $233.38.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a net margin of 30.73% and a return on equity of 18.01%. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.95 EPS. First Solar's revenue for the quarter was up 23.6% on a year-over-year basis. On average, equities analysts expect that First Solar will post 17.61 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 4,815 shares of the company's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $247.43, for a total value of $1,191,375.45. Following the completion of the transaction, the chief executive officer directly owned 89,033 shares in the company, valued at $22,029,435.19. This represents a 5.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Markus Gloeckler sold 420 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $90,564.60. Following the completion of the transaction, the chief technology officer owned 10,896 shares of the company's stock, valued at $2,349,504.48. The trade was a 3.71% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 32,466 shares of company stock worth $8,014,105 in the last ninety days. Corporate insiders own 0.39% of the company's stock.

Institutional Trading of First Solar

Institutional investors have recently bought and sold shares of the stock. Aventura Private Wealth LLC bought a new stake in First Solar in the fourth quarter worth $25,000. Reflection Asset Management bought a new stake in First Solar in the fourth quarter worth $26,000. Commonwealth Retirement Investments LLC bought a new stake in First Solar in the fourth quarter worth $26,000. Larson Financial Group LLC lifted its position in First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer's stock worth $27,000 after buying an additional 55 shares during the last quarter. Finally, Elyxium Wealth LLC bought a new stake in First Solar in the fourth quarter worth $30,000. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

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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