First Solar (NASDAQ:FSLR) Stock Price Down 2.1% on Analyst Downgrade

First Solar, Inc. (NASDAQ:FSLR - Get Free Report)'s stock price fell 2.1% during mid-day trading on Monday after Barclays lowered their price target on the stock from $273.00 to $236.00. Barclays currently has an overweight rating on the stock. First Solar traded as low as $130.60 and last traded at $133.35. 1,353,742 shares traded hands during mid-day trading, a decline of 47% from the average session volume of 2,571,614 shares. The stock had previously closed at $136.18.

Other equities analysts also recently issued reports about the stock. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Wells Fargo & Company reduced their price target 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. Mizuho upgraded First Solar from a "neutral" rating to an "outperform" rating and increased their price objective for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on First Solar from $280.00 to $251.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lowered their price target on First Solar from $282.00 to $268.00 and set an "overweight" rating for the company in a report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $262.08.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 7,475 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $136.60, for a total value of $1,021,085.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the business's stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at $14,589,129.27. This represents a 17.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company's stock.

Institutional Trading of First Solar

A number of large investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer's stock valued at $2,259,697,000 after acquiring an additional 120,289 shares during the period. State Street Corp raised its position 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 during the last quarter. Geode Capital Management LLC boosted its stake in First Solar by 2.4% during the 4th 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 period. Wellington Management Group LLP grew its position in First Solar by 12.5% during the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer's stock worth $415,899,000 after purchasing an additional 262,482 shares during the last quarter. Finally, Invesco Ltd. increased its stake in 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 purchasing an additional 223,933 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Trading Down 6.3 %

The company has a market capitalization of $13.66 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.19 and a beta of 1.47. The business's 50 day simple moving average is $171.20 and its 200 day simple moving average is $196.97. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

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