First Solar’s (FSLR) “Buy” Rating Reiterated at Roth Mkm

Roth Mkm restated their buy rating on shares of First Solar (NASDAQ:FSLRFree Report) in a research note issued to investors on Friday morning, Benzinga reports. They currently have a $320.00 price objective on the solar cell manufacturer’s stock, up from their previous price objective of $230.00.

Several other research analysts also recently issued reports on the company. DZ Bank downgraded First Solar from a buy rating to a hold rating and set a $270.00 price objective for the company. in a research report on Wednesday, May 29th. Barclays boosted their price objective on shares of First Solar from $227.00 to $228.00 and gave the company an overweight rating in a research note on Wednesday, May 15th. Piper Sandler upped their price target on shares of First Solar from $195.00 to $219.00 and gave the stock an overweight rating in a research report on Tuesday, May 21st. Morgan Stanley upped their price objective on shares of First Solar from $245.00 to $248.00 and gave the company an overweight rating in a research report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. upped their target price on shares of First Solar from $240.00 to $262.00 and gave the company an overweight rating in a research note on Thursday, May 23rd. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $251.16.

View Our Latest Stock Analysis on FSLR

First Solar Price Performance

Shares of FSLR opened at $271.76 on Friday. First Solar has a twelve month low of $129.21 and a twelve month high of $286.60. The stock’s 50 day moving average is $194.93 and its two-hundred day moving average is $169.49. The firm has a market capitalization of $29.09 billion, a PE ratio of 28.49, a P/E/G ratio of 0.36 and a beta of 1.37. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLRGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.40 EPS. Research analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insider Activity at First Solar

In related news, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, insider Kuntal Kumar Verma sold 787 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $125,920.00. Following the sale, the insider now owns 4,920 shares of the company’s stock, valued at $787,200. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Alexander R. Bradley sold 16,051 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. In the last 90 days, insiders sold 57,985 shares of company stock worth $13,559,316. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Vanguard Group Inc. lifted its position in shares of First Solar by 0.9% during the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in shares of First Solar by 11.1% during the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after acquiring an additional 279,719 shares in the last quarter. Schroder Investment Management Group increased its position in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after acquiring an additional 351,540 shares in the last quarter. Wellington Management Group LLP increased its position in shares of First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after acquiring an additional 211,755 shares in the last quarter. Finally, Norges Bank bought a new position in First Solar in the fourth quarter valued at $298,123,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

About First Solar

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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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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