First Solar, Inc. (NASDAQ:FSLR) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) have received a consensus rating of "Moderate Buy" from the twenty-eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and two have assigned a strong buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $262.08.

FSLR has been the topic of a number of research reports. Piper Sandler cut their target price on shares of First Solar from $250.00 to $230.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 26th. Robert W. Baird dropped their target price on shares of First Solar from $307.00 to $267.00 and set an "outperform" rating on the stock in a report on Wednesday, December 18th. BMO Capital Markets reaffirmed an "outperform" rating and issued a $230.00 price objective (down previously from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Citigroup dropped their target price on First Solar from $254.00 to $236.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 26th. Finally, Wells Fargo & Company decreased their price objective on shares of First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th.

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First Solar Price Performance

Shares of FSLR traded down $3.71 during trading hours on Friday, reaching $122.72. 211,519 shares of the company's stock traded hands, compared to its average volume of 2,636,307. First Solar has a 12 month low of $120.60 and a 12 month high of $306.77. The stock has a market cap of $13.14 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The firm's 50 day simple moving average is $148.95 and its 200-day simple moving average is $184.01.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. Equities analysts expect that First Solar will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 229 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the sale, the chief executive officer now directly owns 111,890 shares in the company, valued at $14,965,287.50. This represents a 1.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 in the last 90 days. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock worth $2,259,697,000 after acquiring an additional 120,289 shares during the period. State Street Corp increased its stake in First Solar by 2.2% in the 3rd quarter. State Street Corp now owns 4,956,633 shares of the solar cell manufacturer's stock valued at $1,236,383,000 after purchasing an additional 108,984 shares in the last quarter. Geode Capital Management LLC raised its holdings in First Solar by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer's stock worth $469,154,000 after purchasing an additional 63,739 shares during the last quarter. Wellington Management Group LLP grew its holdings in First Solar by 12.5% in the fourth quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock valued at $415,899,000 after purchasing an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. increased its position in shares of First Solar by 13.9% in the fourth quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer's stock valued at $323,410,000 after buying an additional 223,933 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.