First Solar, Inc. (NASDAQ:FSLR) has been given a $40.00 price target by equities research analysts at Roth Capital in a research report issued to clients and investors on Wednesday, May 3rd. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Roth Capital’s price target would indicate a potential upside of 14.42% from the company’s previous close.
Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered First Solar to a “hold” rating and set a $38.00 price objective on the stock. in a report on Saturday, March 25th. JMP Securities raised First Solar from an “underperform” rating to a “market perform” rating and lowered their price objective for the company from $29.40 to $28.99 in a report on Thursday, April 27th. They noted that the move was a valuation call. Robert W. Baird reaffirmed an “outperform” rating on shares of First Solar in a report on Wednesday, May 3rd. Vetr lowered First Solar from a “strong-buy” rating to a “buy” rating and set a $38.18 price objective on the stock. in a report on Monday, January 23rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of First Solar in a report on Wednesday, February 22nd. Two investment analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.08.
First Solar (NASDAQ:FSLR) traded up 3.29% on Wednesday, hitting $36.11. The stock had a trading volume of 958,127 shares. First Solar has a 52-week low of $25.56 and a 52-week high of $51.33. The company has a 50 day moving average price of $30.37 and a 200-day moving average price of $32.29. The company’s market cap is $3.77 billion.
First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.13) by $0.38. First Solar had a return on equity of 9.58% and a net margin of 14.72%. The firm had revenue of $891.79 million for the quarter, compared to analyst estimates of $699.15 million. On average, equities research analysts predict that First Solar will post $0.54 earnings per share for the current year.
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In related news, insider Bryan Robert Schumaker sold 2,747 shares of the company’s stock in a transaction that occurred on Wednesday, May 3rd. The shares were sold at an average price of $35.00, for a total value of $96,145.00. Following the completion of the sale, the insider now owns 1,235 shares in the company, valued at approximately $43,225. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Paul J. Kaleta sold 8,492 shares of the company’s stock in a transaction that occurred on Thursday, February 23rd. The shares were sold at an average price of $33.69, for a total transaction of $286,095.48. Following the completion of the sale, the executive vice president now owns 23,696 shares of the company’s stock, valued at approximately $798,318.24. The disclosure for this sale can be found here. Insiders have sold 13,850 shares of company stock valued at $466,402 over the last 90 days. 0.40% of the stock is currently owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Bank of Nova Scotia bought a new stake in First Solar during the first quarter worth about $212,000. LS Investment Advisors LLC increased its stake in First Solar by 21.7% in the third quarter. LS Investment Advisors LLC now owns 3,387 shares of the solar cell manufacturer’s stock worth $134,000 after buying an additional 605 shares during the last quarter. Virtus Investment Advisers Inc. bought a new stake in First Solar during the third quarter worth about $139,000. Menora Mivtachim Holdings LTD. bought a new stake in First Solar during the fourth quarter worth about $122,000. Finally, Amica Retiree Medical Trust increased its stake in First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the last quarter. Institutional investors own 58.02% of the company’s stock.
About First Solar
First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.
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