First Solar’s (FSLR) Buy Rating Reiterated at Truist Financial

Truist Financial reiterated their buy rating on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a $245.00 target price on the solar cell manufacturer’s stock, down from their previous target price of $285.00.

Several other equities analysts have also recently issued reports on FSLR. Robert W. Baird decreased their price target on shares of First Solar from $307.00 to $267.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Roth Mkm reaffirmed a “buy” rating and set a $280.00 target price on shares of First Solar in a research report on Wednesday, February 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $230.00 price target (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. UBS Group lowered their price objective on First Solar from $360.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and upped their target price for the company from $218.00 to $259.00 in a report on Tuesday, February 11th. Four 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $260.42.

First Solar Stock Down 5.5 %

Shares of FSLR opened at $128.69 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. First Solar has a 52 week low of $120.60 and a 52 week high of $306.77. The stock has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a PEG ratio of 0.19 and a beta of 1.52. The stock has a fifty day moving average of $145.44 and a 200-day moving average of $181.88.

First Solar (NASDAQ:FSLR) 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 firm had revenue of $1.51 billion during 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, sell-side analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. This trade represents a 1.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total value of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. This represents a 67.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last ninety days. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Several large investors have recently bought and sold shares of the stock. Townsquare Capital LLC purchased a new stake in shares of First Solar in the third quarter valued at about $240,000. Glenmede Trust Co. NA increased its stake in First Solar by 4.1% in the 3rd quarter. Glenmede Trust Co. NA now owns 2,328 shares of the solar cell manufacturer’s stock valued at $581,000 after buying an additional 91 shares during the last quarter. Public Sector Pension Investment Board lifted its position in shares of First Solar by 12.6% during the 3rd quarter. Public Sector Pension Investment Board now owns 5,371 shares of the solar cell manufacturer’s stock worth $1,340,000 after buying an additional 600 shares in the last quarter. Benjamin Edwards Inc. purchased a new position in shares of First Solar in the 3rd quarter worth approximately $229,000. Finally, Hilltop Holdings Inc. bought a new position in shares of First Solar in the third quarter valued at approximately $316,000. 92.08% of the stock is currently owned by institutional investors.

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.