First Solar (NASDAQ:FSLR) Trading Up 5.3% – Still a Buy?

Shares of First Solar, Inc. (NASDAQ:FSLR) were up 5.3% during trading on Thursday . The stock traded as high as $138.53 and last traded at $136.65. Approximately 2,249,565 shares changed hands during trading, a decline of 15% from the average daily volume of 2,654,912 shares. The stock had previously closed at $129.82.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FSLR. Seaport Res Ptn raised shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, January 15th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Bank of America lowered their price target on First Solar from $246.00 to $236.00 and set a “buy” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada cut their price objective on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a report on Wednesday, February 26th. Finally, Morgan Stanley lowered their target price on shares of First Solar from $297.00 to $238.00 and set an “overweight” rating for the company in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, First Solar has an average rating of “Moderate Buy” and an average price target of $260.42.

First Solar Price Performance

The firm has a market cap of $14.34 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.19 and a beta of 1.52. The stock’s fifty day moving average price is $146.99 and its 200-day moving average price is $182.93. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities research analysts forecast that First Solar, Inc. will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares in the company, valued at $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Wealth Enhancement Advisory Services LLC boosted its position in shares of First Solar by 3.8% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,134 shares of the solar cell manufacturer’s stock worth $1,081,000 after acquiring an additional 222 shares in the last quarter. Lighthouse Financial LLC purchased a new position in First Solar in the fourth quarter valued at approximately $363,000. Siemens Fonds Invest GmbH raised its holdings in First Solar by 147.9% during the fourth quarter. Siemens Fonds Invest GmbH now owns 2,749 shares of the solar cell manufacturer’s stock worth $484,000 after purchasing an additional 1,640 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of First Solar during the 4th quarter worth approximately $43,442,000. Finally, Mackenzie Financial Corp boosted its holdings in shares of First Solar by 4.7% in the 4th quarter. Mackenzie Financial Corp now owns 16,276 shares of the solar cell manufacturer’s stock valued at $2,868,000 after buying an additional 738 shares in the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.