First Solar (NASDAQ:FSLR) Coverage Initiated by Analysts at Janney Montgomery Scott

Janney Montgomery Scott began coverage on shares of First Solar (NASDAQ:FSLRFree Report) in a research report sent to investors on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $236.00 price objective on the solar cell manufacturer’s stock.

Several other analysts have also issued reports on the company. Oppenheimer upped their target price on First Solar from $268.00 to $269.00 and gave the stock an outperform rating in a report on Wednesday, February 28th. Wells Fargo & Company downgraded First Solar from an overweight rating to an equal weight rating and cut their price objective for the company from $215.00 to $187.00 in a report on Monday, January 8th. Susquehanna restated a positive rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Jefferies Financial Group initiated coverage on shares of First Solar in a research note on Friday, December 15th. They issued a buy rating and a $211.00 target price for the company. Finally, Royal Bank of Canada reissued an outperform rating and set a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Four investment analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of Moderate Buy and an average price target of $227.96.

Read Our Latest Stock Report on First Solar

First Solar Price Performance

Shares of FSLR opened at $182.48 on Friday. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The stock has a market capitalization of $19.53 billion, a P/E ratio of 23.58, a P/E/G ratio of 0.32 and a beta of 1.41. The company has a 50 day moving average of $158.23 and a 200-day moving average of $155.64.

First Solar (NASDAQ:FSLRGet Free Report) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the company posted ($0.07) earnings per share. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that First Solar will post 13.53 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the transaction, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 in the last quarter. Corporate insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock valued at $2,093,515,000 after buying an additional 111,786 shares in the last quarter. State Street Corp boosted its stake in shares of First Solar by 4.4% in the 1st quarter. State Street Corp now owns 4,266,552 shares of the solar cell manufacturer’s stock valued at $927,972,000 after purchasing an additional 179,035 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares during the last quarter. Wellington Management Group LLP increased its position in First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after purchasing an additional 211,755 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in First Solar by 2.6% in the 1st quarter. Geode Capital Management LLC now owns 2,236,723 shares of the solar cell manufacturer’s stock valued at $485,528,000 after purchasing an additional 56,383 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

(Get Free Report)

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.

Further Reading

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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