First Solar (NASDAQ:FSLR) Shares Up 1.3% – Still a Buy?

First Solar, Inc. (NASDAQ:FSLR)’s share price was up 1.3% during mid-day trading on Wednesday . The company traded as high as $131.26 and last traded at $129.00. Approximately 509,544 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 2,548,322 shares. The stock had previously closed at $127.34.

Analysts Set New Price Targets

FSLR has been the topic of several research reports. Royal Bank of Canada reduced their price target on shares of First Solar from $280.00 to $251.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $230.00 price target (down previously from $260.00) on shares of First Solar in a research note on Wednesday, February 26th. StockNews.com raised shares of First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Wells Fargo & Company dropped their target price on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating for the company in a research report on Wednesday, January 8th. Finally, Citigroup dropped their target price on shares of First Solar from $254.00 to $236.00 and set a “neutral” rating for the company in a research report on Wednesday, February 26th. Four research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.08.

First Solar Trading Up 1.5 %

The stock has a market cap of $13.83 billion, a price-to-earnings ratio of 11.12, a PEG ratio of 0.19 and a beta of 1.52. The business’s 50 day simple moving average is $159.91 and its 200 day simple moving average is $189.73. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. On average, research analysts expect that First Solar, Inc. will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $80,116.25. Following the transaction, the chief financial officer now directly owns 45,717 shares of the company’s stock, valued at $6,114,648.75. This represents a 1.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Kuntal Kumar Verma sold 7,475 shares of First Solar stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $484,793.40. The trade was a 67.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 in the last quarter. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several hedge funds have recently added to or reduced their stakes in the company. Strengthening Families & Communities LLC bought a new position in First Solar during the 3rd quarter worth $25,000. Larson Financial Group LLC increased its position in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock worth $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC raised its stake in First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after purchasing an additional 63 shares in the last quarter. Crews Bank & Trust bought a new stake in First Solar in the 4th quarter valued at about $53,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar during the 4th quarter worth approximately $53,000. 92.08% of the stock is 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.