DZ Bank Begins Coverage on First Solar (NASDAQ:FSLR)

DZ Bank assumed coverage on shares of First Solar (NASDAQ:FSLR) in a report released on Wednesday, MarketBeat reports. The firm issued a buy rating and a $205.00 price objective on the solar cell manufacturer’s stock.

Other analysts have also issued research reports about the company. Susquehanna reissued a positive rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Royal Bank of Canada reiterated an outperform rating and issued a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Wells Fargo & Company cut shares of First Solar from an overweight rating to an equal weight rating and lowered their target price for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Bank of America lifted their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Oppenheimer increased their price objective on shares of First Solar from $268.00 to $269.00 and gave the company an outperform rating in a research report on Wednesday, February 28th. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $229.68.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $175.04 on Wednesday. The business has a fifty day moving average price of $161.34 and a 200-day moving average price of $156.18. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company has a market capitalization of $18.74 billion, a PE ratio of 22.61, a PEG ratio of 0.31 and a beta of 1.41. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the company earned ($0.07) earnings per share. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities analysts expect that First Solar will post 13.55 EPS for the current fiscal year.

Insider Activity

In related news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Everett Harris & Co. CA bought a new stake in shares of First Solar in the first quarter worth about $219,000. First Trust Direct Indexing L.P. purchased a new position in First Solar during the 1st quarter valued at approximately $215,000. Bourgeon Capital Management LLC increased its stake in First Solar by 1,756.8% in the 1st quarter. Bourgeon Capital Management LLC now owns 3,435 shares of the solar cell manufacturer’s stock worth $580,000 after acquiring an additional 3,250 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after acquiring an additional 15,430 shares in the last quarter. Finally, Handelsinvest Investeringsforvaltning boosted its position in shares of First Solar by 5.0% during the 1st quarter. Handelsinvest Investeringsforvaltning now owns 7,198 shares of the solar cell manufacturer’s stock valued at $1,215,000 after acquiring an additional 342 shares during the last quarter. Institutional investors 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.