First Solar, Inc. (NASDAQ:FSLR) has been assigned an average rating of “Buy” from the sixteen brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and eleven have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $68.22.

FSLR has been the subject of a number of analyst reports. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $72.00 price objective (up previously from $70.00) on shares of First Solar in a research report on Monday, May 6th. Roth Capital set a $75.00 price objective on shares of First Solar and gave the stock a “buy” rating in a research report on Thursday, June 13th. Argus upped their price objective on shares of First Solar to $66.00 and gave the stock an “average” rating in a research report on Friday, May 3rd. BidaskClub upgraded shares of Zai Lab from a “sell” rating to a “hold” rating in a research report on Wednesday, June 5th. Finally, Zacks Investment Research upgraded shares of Triple-S Management from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Monday, April 29th.

In related news, insider Georges Antoun sold 8,476 shares of the company’s stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $65.51, for a total transaction of $555,262.76. Following the completion of the transaction, the insider now owns 86,870 shares in the company, valued at approximately $5,690,853.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Raffi Garabedian sold 20,141 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $60.05, for a total transaction of $1,209,467.05. Following the transaction, the chief technology officer now owns 31,099 shares of the company’s stock, valued at approximately $1,867,494.95. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 119,981 shares of company stock valued at $7,258,483. Insiders own 0.72% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its stake in First Solar by 5.6% during the 1st quarter. BlackRock Inc. now owns 7,998,996 shares of the solar cell manufacturer’s stock valued at $422,666,000 after acquiring an additional 422,290 shares in the last quarter. Millennium Management LLC grew its stake in shares of First Solar by 523.0% in the 4th quarter. Millennium Management LLC now owns 2,065,760 shares of the solar cell manufacturer’s stock valued at $87,702,000 after buying an additional 1,734,171 shares during the period. Artisan Partners Limited Partnership grew its stake in shares of First Solar by 986.3% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,637,421 shares of the solar cell manufacturer’s stock valued at $86,521,000 after buying an additional 1,486,686 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Solar by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,526,286 shares of the solar cell manufacturer’s stock valued at $64,800,000 after buying an additional 42,066 shares during the period. Finally, Norges Bank purchased a new stake in shares of First Solar in the 4th quarter valued at approximately $54,251,000. 61.50% of the stock is owned by institutional investors.

NASDAQ FSLR traded up $1.05 on Wednesday, reaching $66.07. 50,903 shares of the company’s stock traded hands, compared to its average volume of 765,262. The stock has a market cap of $6.83 billion, a price-to-earnings ratio of 48.57, a price-to-earnings-growth ratio of 1.17 and a beta of 1.33. The business has a 50 day moving average of $64.66. First Solar has a fifty-two week low of $36.51 and a fifty-two week high of $67.99. The company has a debt-to-equity ratio of 0.11, a quick ratio of 3.83 and a current ratio of 4.38.

First Solar (NASDAQ:FSLR) last posted its earnings results on Thursday, May 2nd. The solar cell manufacturer reported ($0.64) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.52). The business had revenue of $532.00 million for the quarter, compared to analyst estimates of $596.32 million. First Solar had a negative net margin of 0.28% and a negative return on equity of 0.12%. The company’s revenue for the quarter was down 6.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 earnings per share. On average, analysts expect that First Solar will post 2.39 EPS for the current fiscal year.

First Solar Company Profile

First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United States and internationally. It operates in two segments, Modules and Systems. The Components segment designs, manufactures, and sells cadmium telluride solar modules that convert sunlight into electricity. This segment offers its products to integrators and operators of PV solar power systems.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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