First Solar (FSLR) Upgraded to Strong-Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of First Solar (NASDAQ:FSLR) from a hold rating to a strong-buy rating in a report released on Wednesday. They currently have $73.00 price objective on the solar cell manufacturer’s stock.

According to Zacks, “First Solar continues to focus on retaining its competitive edge and aims to further consolidate its position in the solar market.  In fact, First Solar’s constant product innovation efforts will continue to attract customers and expand its revenue stream. It is able to develop economically sustainable businesses as it has established its expertise in PV generation solutions as well as in other areas of the solar-value chain. The company looks to strengthen its presence in the Middle East, Australia, Japan and India and also expand operations into countries like France, Israel, Indonesia, Malaysia, Thailand and the Philippines. The company also outperformed the broader industry in the last year.  However, the company faces intense competition from manufacturers of crystalline-silicon solar modules, and other types of solar modules and PV systems.”

A number of other equities research analysts have also recently commented on FSLR. ValuEngine raised First Solar from a hold rating to a buy rating in a research note on Friday, February 2nd. BidaskClub cut First Solar from a buy rating to a hold rating in a research note on Friday, February 2nd. Vetr cut First Solar from a hold rating to a sell rating and set a $65.52 price objective for the company. in a research note on Monday. JMP Securities lifted their price objective on First Solar to $84.00 and gave the stock an outperform rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. set a $69.00 price objective on First Solar and gave the stock a hold rating in a research note on Monday, December 18th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. First Solar has an average rating of Hold and a consensus target price of $65.20.

Shares of First Solar (NASDAQ FSLR) opened at $62.94 on Wednesday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a 52 week low of $25.56 and a 52 week high of $76.61. The company has a market capitalization of $6,629.41, a price-to-earnings ratio of -14.37 and a beta of 2.09.

In other First Solar news, COO Philip Dejong sold 15,304 shares of the business’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the transaction, the chief operating officer now directly owns 10,424 shares of the company’s stock, valued at $707,059.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Raffi Garabedian sold 11,284 shares of the business’s stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $70.06, for a total value of $790,557.04. Following the completion of the transaction, the insider now directly owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,858 shares of company stock valued at $3,134,015. Insiders own 0.58% of the company’s stock.

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in First Solar by 3.9% in the second quarter. Vanguard Group Inc. now owns 6,545,727 shares of the solar cell manufacturer’s stock valued at $261,043,000 after acquiring an additional 243,787 shares during the period. Bank of New York Mellon Corp boosted its position in shares of First Solar by 6.0% during the third quarter. Bank of New York Mellon Corp now owns 1,456,546 shares of the solar cell manufacturer’s stock worth $66,825,000 after buying an additional 82,634 shares during the period. Key Square Capital Management LLC acquired a new position in shares of First Solar during the third quarter worth about $23,621,000. Ecofin Ltd. acquired a new position in shares of First Solar during the second quarter worth about $19,485,000. Finally, Personal Capital Advisors Corp boosted its position in shares of First Solar by 4.0% during the fourth quarter. Personal Capital Advisors Corp now owns 383,309 shares of the solar cell manufacturer’s stock worth $25,881,000 after buying an additional 14,805 shares during the period. 50.74% of the stock is owned by hedge funds and other institutional investors.

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First Solar Company Profile

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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