First Solar (NASDAQ:FSLR – Get Free Report) had its price objective upped by investment analysts at UBS Group from $290.00 to $330.00 in a report released on Thursday,MarketScreener reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s price objective points to a potential upside of 26.31% from the stock’s current price.
Other equities research analysts have also issued research reports about the company. Jefferies Financial Group reduced their price target on First Solar from $205.00 to $187.00 and set a “hold” rating on the stock in a research report on Tuesday, April 7th. Citigroup dropped their price objective on shares of First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research report on Tuesday, April 21st. Royal Bank Of Canada reduced their price objective on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Wolfe Research cut shares of First Solar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Barclays dropped their target price on First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $248.88.
Check Out Our Latest Analysis on First Solar
First Solar Trading Up 4.8%
First Solar (NASDAQ:FSLR – Get Free Report) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the company earned $1.95 earnings per share. The firm’s quarterly revenue was up 23.6% compared to the same quarter last year. As a group, research analysts anticipate that First Solar will post 17.61 earnings per share for the current fiscal year.
Insider Activity at First Solar
In other news, CEO Mark R. Widmar sold 9,926 shares of First Solar stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $233.21, for a total transaction of $2,314,842.46. Following the sale, the chief executive officer owned 95,148 shares in the company, valued at approximately $22,189,465.08. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 14,106 shares of the business’s stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the completion of the sale, the chief financial officer directly owned 30,000 shares of the company’s stock, valued at $5,999,100. The trade was a 31.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 60,694 shares of company stock valued at $13,659,583. Corporate insiders own 0.39% of the company’s stock.
Institutional Investors Weigh In On First Solar
Several large investors have recently modified their holdings of FSLR. Linden Thomas Advisory Services LLC increased its holdings in shares of First Solar by 1.7% in the 3rd quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after acquiring an additional 39 shares during the period. Apollon Wealth Management LLC raised its position in First Solar by 1.2% in the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer’s stock valued at $942,000 after purchasing an additional 44 shares during the last quarter. Root Financial Partners LLC boosted its stake in First Solar by 18.2% during the 4th quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock worth $76,000 after purchasing an additional 45 shares during the period. FIL Ltd boosted its stake in First Solar by 6.9% during the 4th quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock worth $185,000 after purchasing an additional 46 shares during the period. Finally, Fielder Capital Group LLC grew its position in First Solar by 4.1% during the 4th quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer’s stock worth $312,000 after purchasing an additional 47 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.
First Solar Company Profile
First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.
Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.
Read More
- Five stocks we like better than First Solar
- 3 Stocks Cashing In on AI While Everyone Watches NVIDIA
- 2 Ways to Play the QXO/TopBuild Deal
- Wolfspeed Ditches EV Woes for High-Margin Defense Jets
- Casey’s Is Looking Like a Hot Buy as Growth, Buybacks, and Guidance Align
Receive News & Ratings for First Solar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Solar and related companies with MarketBeat.com's FREE daily email newsletter.
