First Solar (NASDAQ:FSLR – Free Report) had its price target upped by BMO Capital Markets from $235.00 to $237.00 in a report released on Monday morning, Marketbeat.com reports. The firm currently has a market perform rating on the solar cell manufacturer’s stock.
FSLR has been the subject of several other reports. 51job restated a maintains rating on shares of First Solar in a research report on Monday, June 26th. UBS Group cut their price objective on shares of First Solar from $280.00 to $270.00 and set a buy rating for the company in a research report on Friday. Deutsche Bank Aktiengesellschaft upgraded shares of First Solar from a hold rating to a buy rating and raised their price objective for the stock from $220.00 to $235.00 in a research report on Friday. Bank of America upgraded shares of First Solar from a neutral rating to a buy rating and raised their price objective for the stock from $202.00 to $283.00 in a research report on Friday, July 28th. Finally, Morgan Stanley upgraded shares of First Solar from an underweight rating to an equal weight rating and raised their price objective for the stock from $180.00 to $206.00 in a research report on Wednesday, September 6th. Nine investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $232.62.
Get Our Latest Stock Analysis on First Solar
First Solar Trading Down 2.1 %
First Solar (NASDAQ:FSLR – Get Free Report) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.90. First Solar had a net margin of 5.23% and a return on equity of 3.13%. The business had revenue of $810.67 million during the quarter, compared to the consensus estimate of $720.43 million. On average, equities analysts expect that First Solar will post 7.92 earnings per share for the current fiscal year.
Insider Activity at First Solar
In other First Solar news, CEO Mark R. Widmar sold 3,982 shares of the business’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $205.00, for a total transaction of $816,310.00. Following the sale, the chief executive officer now owns 86,181 shares of the company’s stock, valued at $17,667,105. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Solar news, CFO Alexander R. Bradley sold 5,500 shares of the business’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $186.22, for a total transaction of $1,024,210.00. Following the sale, the chief financial officer now owns 35,419 shares of the company’s stock, valued at $6,595,726.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Mark R. Widmar sold 3,982 shares of the business’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $205.00, for a total transaction of $816,310.00. Following the sale, the chief executive officer now directly owns 86,181 shares in the company, valued at approximately $17,667,105. The disclosure for this sale can be found here. Insiders have sold 34,452 shares of company stock valued at $6,833,334 over the last three months. 0.58% of the stock is owned by insiders.
Hedge Funds Weigh In On First Solar
Hedge funds have recently modified their holdings of the business. Armstrong Advisory Group Inc. acquired a new position in shares of First Solar during the first quarter worth $25,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of First Solar by 172.7% during the first quarter. Massmutual Trust Co. FSB ADV now owns 150 shares of the solar cell manufacturer’s stock worth $33,000 after purchasing an additional 95 shares during the period. Householder Group Estate & Retirement Specialist LLC acquired a new position in shares of First Solar during the first quarter worth $33,000. Lakewood Asset Management LLC acquired a new position in shares of First Solar during the fourth quarter worth $34,000. Finally, Covestor Ltd lifted its holdings in shares of First Solar by 97.7% during the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock worth $35,000 after purchasing an additional 208 shares during the period. Institutional investors and hedge funds own 82.08% of the company’s stock.
About First Solar
First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.
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