First Solar (NASDAQ:FSLR) Shares Up 5.3% - Time to Buy?

First Solar, Inc. (NASDAQ:FSLR - Get Free Report) shares rose 5.3% during trading on Thursday . The company traded as high as $138.53 and last traded at $136.65. Approximately 2,249,565 shares were traded during trading, a decline of 15% from the average daily volume of 2,654,912 shares. The stock had previously closed at $129.82.

Analyst Upgrades and Downgrades

Several research firms have weighed in on FSLR. Citigroup lowered their price objective on shares of First Solar from $254.00 to $236.00 and set a "neutral" rating for the company in a research report on Wednesday, February 26th. Robert W. Baird decreased their price objective on First Solar from $307.00 to $267.00 and set an "outperform" rating for the company in a report on Wednesday, December 18th. Morgan Stanley reduced their target price on shares of First Solar from $297.00 to $238.00 and set an "overweight" rating for the company in a report on Thursday, February 27th. Bank of America reduced their target price on First Solar from $246.00 to $236.00 and set a "buy" rating on the stock in a report on Tuesday, January 28th. Finally, StockNews.com upgraded shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $260.42.

Remove Ads

First Solar Stock Down 5.5 %

The stock has a market capitalization of $13.78 billion, a P/E ratio of 11.08, a P/E/G ratio of 0.19 and a beta of 1.52. The stock's 50 day simple moving average is $145.44 and its 200 day simple moving average is $181.47. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing the consensus estimate 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 net margin of 32.41% and a return on equity of 17.56%. As a group, research analysts predict that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $262,952.50. Following the completion of the transaction, the chief executive officer now owns 111,890 shares in the company, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 380 shares of First Solar stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the transaction, the chief technology officer now directly owns 17,594 shares of the company's stock, valued at $2,353,197.50. This represents a 2.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 over the last ninety days. Company insiders own 0.58% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of First Solar in the 4th quarter valued at about $317,399,000. Wellington Management Group LLP raised its holdings in First Solar by 75.8% in the 3rd quarter. Wellington Management Group LLP now owns 2,097,364 shares of the solar cell manufacturer's stock valued at $523,166,000 after acquiring an additional 904,498 shares during the period. Demars Financial Group LLC increased its stake in shares of First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer's stock worth $127,379,000 after purchasing an additional 718,631 shares during the period. Mirova US LLC boosted its position in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer's stock valued at $113,906,000 after acquiring an additional 585,394 shares during the period. Finally, Amundi grew its position in shares of First Solar by 31.0% during the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer's stock worth $336,871,000 after purchasing an additional 426,797 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

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.