First Solar (NASDAQ:FSLR) PT Raised to $175.00

First Solar (NASDAQ:FSLRGet Rating) had its price objective upped by research analysts at Susquehanna from $120.00 to $175.00 in a research note issued on Friday, The Fly reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price target would indicate a potential upside of 28.85% from the company’s current price.

Several other research firms have also recently commented on FSLR. Oppenheimer upgraded First Solar from a “market perform” rating to an “outperform” rating and set a $116.00 target price on the stock in a research note on Friday, July 29th. Robert W. Baird upped their price objective on First Solar from $119.00 to $164.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 31st. TheStreet upgraded First Solar from a “c+” rating to a “b-” rating in a research note on Monday, August 15th. The Goldman Sachs Group upgraded First Solar from a “sell” rating to a “buy” rating and upped their price objective for the stock from $60.00 to $172.00 in a research note on Wednesday. Finally, StockNews.com upgraded First Solar from a “sell” rating to a “hold” rating in a research note on Friday, September 2nd. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $121.74.

First Solar Trading Down 1.2 %

NASDAQ:FSLR opened at $135.82 on Friday. First Solar has a fifty-two week low of $59.60 and a fifty-two week high of $139.91. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.21 and a quick ratio of 3.20. The stock has a market capitalization of $14.48 billion, a PE ratio of 77.17, a price-to-earnings-growth ratio of 34.53 and a beta of 1.37. The business’s 50-day simple moving average is $99.60 and its 200-day simple moving average is $82.16.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings data on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.09). The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $606.45 million. First Solar had a net margin of 7.63% and a return on equity of 3.21%. The company’s revenue for the quarter was down 1.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.77 EPS. Sell-side analysts expect that First Solar will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, Director R Craig Kennedy sold 600 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $117.41, for a total value of $70,446.00. Following the completion of the sale, the director now owns 19,785 shares of the company’s stock, valued at $2,322,956.85. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Michael Koralewski sold 1,822 shares of First Solar stock in a transaction on Friday, July 1st. The stock was sold at an average price of $67.58, for a total transaction of $123,130.76. Following the sale, the insider now directly owns 1,007 shares in the company, valued at $68,053.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $117.41, for a total value of $70,446.00. Following the completion of the sale, the director now owns 19,785 shares in the company, valued at $2,322,956.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,073 shares of company stock worth $4,083,386. 0.54% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FSLR. State of Michigan Retirement System boosted its holdings in shares of First Solar by 0.4% in the 2nd quarter. State of Michigan Retirement System now owns 25,224 shares of the solar cell manufacturer’s stock worth $1,719,000 after purchasing an additional 100 shares in the last quarter. FDx Advisors Inc. grew its stake in shares of First Solar by 3.4% in the 2nd quarter. FDx Advisors Inc. now owns 3,529 shares of the solar cell manufacturer’s stock worth $240,000 after buying an additional 116 shares during the last quarter. Ellevest Inc. boosted its stake in First Solar by 53.3% during the 1st quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 130 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in First Solar by 1.6% during the 2nd quarter. Janney Montgomery Scott LLC now owns 8,636 shares of the solar cell manufacturer’s stock valued at $585,000 after purchasing an additional 133 shares during the last quarter. Finally, Bouvel Investment Partners LLC boosted its stake in First Solar by 0.8% during the 1st quarter. Bouvel Investment Partners LLC now owns 18,905 shares of the solar cell manufacturer’s stock valued at $1,583,000 after purchasing an additional 153 shares during the last quarter. 79.21% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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