First Solar’s (FSLR) “Outperform” Rating Reiterated at BMO Capital Markets

BMO Capital Markets reaffirmed their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research report released on Wednesday, Benzinga reports. BMO Capital Markets currently has a $260.00 price objective on the solar cell manufacturer’s stock, down from their prior price objective of $286.00.

Several other equities analysts have also recently weighed in on the company. Piper Sandler raised their price objective on First Solar from $219.00 to $250.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. Jefferies Financial Group decreased their price target on First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Wells Fargo & Company lowered their price target on First Solar from $250.00 to $240.00 and set an “overweight” rating on the stock in a research report on Wednesday. UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Finally, Robert W. Baird lowered their target price on shares of First Solar from $344.00 to $307.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Trading Up 5.4 %

NASDAQ FSLR opened at $204.94 on Wednesday. The stock has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.44. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The stock’s 50 day moving average price is $221.68 and its two-hundred day moving average price is $223.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS 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 analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The business’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.50 EPS. As a group, analysts anticipate that First Solar will post 13.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently bought and sold shares of the company. Covestor Ltd raised its position in shares of First Solar by 6.4% in the 3rd quarter. Covestor Ltd now owns 916 shares of the solar cell manufacturer’s stock valued at $229,000 after buying an additional 55 shares in the last quarter. Atria Investments Inc raised its position in First Solar by 24.7% during the third quarter. Atria Investments Inc now owns 2,476 shares of the solar cell manufacturer’s stock valued at $618,000 after purchasing an additional 490 shares in the last quarter. Field & Main Bank lifted its stake in First Solar by 4.1% during the third quarter. Field & Main Bank now owns 1,385 shares of the solar cell manufacturer’s stock worth $345,000 after purchasing an additional 55 shares during the last quarter. Demars Financial Group LLC boosted its holdings in shares of First Solar by 1.4% in the 3rd quarter. Demars Financial Group LLC now owns 4,129 shares of the solar cell manufacturer’s stock valued at $1,030,000 after purchasing an additional 56 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in shares of First Solar by 182.6% in the 3rd quarter. Lindbrook Capital LLC now owns 1,232 shares of the solar cell manufacturer’s stock valued at $307,000 after purchasing an additional 796 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.