FSLR has been the subject of several other reports. Cowen reaffirmed a buy rating and set a $57.00 price objective on shares of First Solar in a research note on Sunday, September 3rd. Robert W. Baird reaffirmed a hold rating and set a $53.00 price objective on shares of First Solar in a research note on Friday, October 27th. Needham & Company LLC reaffirmed a buy rating and set a $65.00 price objective on shares of First Solar in a research note on Friday, December 1st. JMP Securities reaffirmed an outperform rating and set a $50.00 price objective (down from $67.00) on shares of First Solar in a research note on Tuesday, September 26th. Finally, Vetr raised First Solar from a buy rating to a strong-buy rating and set a $53.04 price objective for the company in a research note on Wednesday, October 11th. Ten equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have given a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $61.07.
Shares of First Solar (NASDAQ FSLR) opened at $68.48 on Monday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market capitalization of $7,196.48, a P/E ratio of 16.89 and a beta of 2.03. First Solar has a one year low of $25.56 and a one year high of $71.80.
In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $64.40, for a total transaction of $1,305,388.00. Following the transaction, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.58% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. Fiduciary Trust Co. acquired a new position in First Solar during the 2nd quarter worth approximately $128,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in First Solar by 64.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock worth $201,000 after purchasing an additional 1,716 shares during the period. Garner Asset Management Corp acquired a new position in First Solar during the 2nd quarter worth approximately $208,000. World Asset Management Inc acquired a new stake in shares of First Solar in the 2nd quarter worth approximately $221,000. Finally, Riverhead Capital Management LLC grew its holdings in shares of First Solar by 82.6% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock worth $226,000 after acquiring an additional 2,560 shares during the period. Institutional investors own 51.21% of the company’s stock.
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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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