First Solar (NASDAQ:FSLR) Upgraded by Seaport Res Ptn to Hold Rating

Seaport Res Ptn upgraded shares of First Solar (NASDAQ:FSLR) to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.

A number of other research firms have also recently issued reports on FSLR. Oppenheimer lifted their price objective on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Royal Bank of Canada dropped their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 30th. Barclays lifted their price objective on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. The Goldman Sachs Group lowered their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a research report on Wednesday, October 30th. Finally, UBS Group raised their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Stock Performance

Shares of FSLR stock opened at $215.89 on Tuesday. The stock’s fifty day simple moving average is $221.26 and its 200-day simple moving average is $224.87. The company has a market capitalization of $23.11 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 0.36 and a beta of 1.48. 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 has a 1-year low of $129.21 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $2.50 EPS. On average, sell-side analysts predict that First Solar will post 13.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently modified their holdings of the stock. Western Financial Corp CA acquired a new stake in shares of First Solar in the 3rd quarter valued at $1,209,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of First Solar by 20.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after buying an additional 20,465 shares during the last quarter. Harbour Capital Advisors LLC lifted its holdings in First Solar by 224.0% in the third quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock valued at $1,301,000 after buying an additional 3,607 shares during the period. Vanguard Group Inc. grew its holdings in First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after acquiring an additional 105,236 shares during the period. Finally, Warther Private Wealth LLC acquired a new position in shares of First Solar in the 3rd quarter valued at $2,655,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.