First Solar, Inc. (NASDAQ:FSLR) Receives $265.72 Average PT from Analysts

Shares of First Solar, Inc. (NASDAQ:FSLR) have received a consensus recommendation of “Moderate Buy” from the twenty-five analysts that are covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $267.12.

Several research firms recently issued reports on FSLR. Piper Sandler boosted their target price on shares of First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. BMO Capital Markets increased their target price on shares of First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research note on Monday, June 10th. Susquehanna raised their target price on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday. Guggenheim dropped their price objective on First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Finally, Mizuho restated a “neutral” rating and issued a $274.00 price objective (up from $209.00) on shares of First Solar in a research report on Thursday, May 30th.

Insider Activity

In related news, Director Richard D. Chapman sold 3,165 shares of the company’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the transaction, the director now directly owns 1,045 shares in the company, valued at $199,051.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Kuntal Kumar Verma sold 1,621 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at approximately $922,740. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Chapman sold 3,165 shares of First Solar stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Insiders sold a total of 51,153 shares of company stock valued at $12,540,428 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors have recently added to or reduced their stakes in FSLR. Massmutual Trust Co. FSB ADV grew its stake in shares of First Solar by 24.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock valued at $70,000 after buying an additional 62 shares in the last quarter. First Hawaiian Bank purchased a new position in shares of First Solar in the second quarter valued at approximately $537,000. GAMMA Investing LLC increased its stake in First Solar by 54.9% during the 2nd quarter. GAMMA Investing LLC now owns 1,698 shares of the solar cell manufacturer’s stock worth $383,000 after buying an additional 602 shares during the period. Cambridge Trust Co. boosted its position in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares during the period. Finally, Clean Yield Group increased its position in shares of First Solar by 35.6% during the first quarter. Clean Yield Group now owns 27,034 shares of the solar cell manufacturer’s stock worth $4,563,000 after acquiring an additional 7,104 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $231.11 on Thursday. The company has a market capitalization of $24.74 billion, a P/E ratio of 24.23, a P/E/G ratio of 0.30 and a beta of 1.44. The business’s 50-day moving average is $235.30 and its two-hundred day moving average is $186.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period last year, the company earned $0.40 earnings per share. First Solar’s revenue for the quarter was up 44.8% compared to the same quarter last year. Research analysts predict that First Solar will post 13.58 earnings per share for the current year.

First Solar Company Profile

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.