First Solar, Inc. (NASDAQ:FSLR) Receives $277.25 Average PT from Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR) have received a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the firm, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $283.46.

Several research analysts recently commented on FSLR shares. Clarkson Capital began coverage on First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target for the company. Mizuho reissued a “neutral” rating and issued a $274.00 target price (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $315.00 price target on shares of First Solar in a research report on Wednesday, July 31st. Piper Sandler increased their price target on shares of First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a research note on Monday, July 22nd. Finally, The Goldman Sachs Group upped their target price on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The disclosure for this sale can be found here. Insiders have sold 12,506 shares of company stock valued at $2,827,217 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in shares of First Solar in the first quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar during the 4th quarter worth about $27,000. Atlas Capital Advisors LLC grew its position in shares of First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the last quarter. Riverview Trust Co acquired a new stake in shares of First Solar in the first quarter valued at about $32,000. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar in the second quarter valued at about $36,000. Institutional investors own 92.08% of the company’s stock.

First Solar Price Performance

Shares of FSLR opened at $233.31 on Tuesday. The stock has a 50 day simple moving average of $221.19 and a 200 day simple moving average of $211.13. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm has a market capitalization of $24.97 billion, a PE ratio of 24.46, a P/E/G ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.85 earnings per share. Sell-side analysts predict that First Solar will post 13.6 EPS for the current fiscal 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.