Jefferies Financial Group Issues Pessimistic Forecast for First Solar (NASDAQ:FSLR) Stock Price

Key Points

• Jefferies Financial Group cut its price target on First Solar from $205 to $187 and kept a "hold" rating, implying roughly a 1.6% downside from the prior close.
• Analyst views are mixed — 20 Buy, 13 Hold and 2 Sell — with a consensus average target of $247.17, equating to an overall "Moderate Buy" stance.
• First Solar missed EPS estimates in the most recent quarter ($4.84 vs. $5.22) but beat revenue forecasts ($1.68B); the stock traded near $190 and insiders have sold about 75,989 shares over the past 90 days.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price decreased by investment analysts at Jefferies Financial Group from $205.00 to $187.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has a "hold" rating on the solar cell manufacturer's stock. Jefferies Financial Group's target price indicates a potential downside of 1.58% from the stock's previous close.

Other equities analysts have also recently issued research reports about the stock. BMO Capital Markets decreased their price objective on shares of First Solar from $263.00 to $252.00 and set a "market perform" rating on the stock in a research report on Friday, March 27th. Zacks Research downgraded shares of First Solar from a "hold" rating to a "strong sell" rating in a research note on Monday, March 16th. Daiwa Securities Group raised their target price on shares of First Solar from $215.00 to $284.00 and gave the company an "outperform" rating in a research note on Tuesday, December 9th. JPMorgan Chase & Co. cut their price target on shares of First Solar from $303.00 to $256.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Finally, Glj Research cut shares of First Solar from a "buy" rating to a "hold" rating and dropped their target price for the stock from $314.43 to $207.82 in a report on Wednesday, March 4th. Twenty equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, First Solar has an average rating of "Moderate Buy" and an average target price of $247.17.

First Solar Stock Performance

First Solar stock traded down $5.58 during mid-day trading on Tuesday, reaching $190.00. The company's stock had a trading volume of 470,727 shares, compared to its average volume of 2,347,009. First Solar has a 12-month low of $116.56 and a 12-month high of $285.99. The company has a market capitalization of $20.39 billion, a P/E ratio of 13.38, a PEG ratio of 0.35 and a beta of 1.61. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.35 and a current ratio of 2.67. The firm's fifty day moving average price is $210.96 and its two-hundred day moving average price is $235.54.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 EPS for the quarter, missing the consensus estimate of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The firm had revenue of $1.68 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the business earned $3.65 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Sell-side analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling

In other news, General Counsel Jason E. Dymbort sold 9,022 shares of the company's stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.62, for a total value of $1,800,971.64. Following the completion of the sale, the general counsel owned 9,850 shares of the company's stock, valued at approximately $1,966,257. This represents a 47.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Mark R. Widmar sold 1,937 shares of the business's stock in a transaction that occurred on Monday, March 16th. The stock was sold at an average price of $200.80, for a total transaction of $388,949.60. Following the transaction, the chief executive officer owned 102,798 shares of the company's stock, valued at approximately $20,641,838.40. This trade represents a 1.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 75,989 shares of company stock worth $14,921,902 over the last 90 days. Corporate insiders own 0.48% of the company's stock.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. Linden Thomas Advisory Services LLC lifted its holdings in First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer's stock valued at $504,000 after purchasing an additional 39 shares in the last quarter. Apollon Wealth Management LLC increased its position in First Solar by 1.2% during the fourth quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after purchasing an additional 44 shares during the last quarter. Root Financial Partners LLC increased its position in First Solar by 18.2% during the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock worth $76,000 after purchasing an additional 45 shares during the last quarter. FIL Ltd increased its position in shares of First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock valued at $185,000 after acquiring an additional 46 shares during the last quarter. Finally, Signaturefd LLC increased its position in shares of First Solar by 2.6% during the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer's stock valued at $414,000 after acquiring an additional 47 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

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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