Jefferies Financial Group Cuts First Solar (NASDAQ:FSLR) Price Target to $187.00
by Teresa Graham · The Cerbat GemFirst Solar (NASDAQ:FSLR – Free Report) had its price objective cut by Jefferies Financial Group from $205.00 to $187.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a hold rating on the solar cell manufacturer’s stock.
A number of other research analysts have also issued reports on the company. Evercore dropped their target price on First Solar from $241.00 to $212.00 in a report on Thursday, March 5th. The Goldman Sachs Group dropped their price objective on First Solar from $316.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Royal Bank Of Canada dropped their price objective on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Daiwa Securities Group upped their price objective on First Solar from $215.00 to $284.00 and gave the stock an “outperform” rating in a report on Tuesday, December 9th. Finally, Freedom Capital lowered First Solar from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 26th. Twenty analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $246.13.
Get Our Latest Report on First Solar
First Solar Trading Down 1.8%
NASDAQ:FSLR opened at $197.25 on Tuesday. The firm has a market cap of $21.19 billion, a P/E ratio of 13.88, a PEG ratio of 0.36 and a beta of 1.61. The company has a current ratio of 2.67, a quick ratio of 2.35 and a debt-to-equity ratio of 0.03. The stock’s 50 day simple moving average is $208.60 and its 200-day simple moving average is $234.90. First Solar has a 12-month low of $117.65 and a 12-month high of $285.99.
First Solar (NASDAQ:FSLR – Get Free Report) last released its earnings results on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). The company had revenue of $1.68 billion during the quarter, compared to analyst estimates of $1.59 billion. First Solar had a net margin of 29.28% and a return on equity of 17.32%. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.65 EPS. Equities analysts anticipate that First Solar will post 13.05 EPS for the current year.
Insider Activity
In other First Solar news, insider Kuntal Kumar Verma sold 3,426 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $195.93, for a total value of $671,256.18. Following the sale, the insider owned 8,334 shares of the company’s stock, valued at approximately $1,632,880.62. This represents a 29.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 7,738 shares of the company’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $1,516,106.34. Following the completion of the sale, the chief executive officer directly owned 91,787 shares in the company, valued at $17,983,826.91. This trade represents a 7.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 75,989 shares of company stock valued at $14,921,902 over the last three months. 0.48% of the stock is currently owned by corporate insiders.
Institutional Trading of First Solar
Several large investors have recently bought and sold shares of the company. Linden Thomas Advisory Services LLC grew its holdings in First Solar by 1.7% in the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer’s stock valued at $504,000 after purchasing an additional 39 shares during the last quarter. Apollon Wealth Management LLC grew its holdings in First Solar by 1.2% in the fourth 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 grew its holdings in First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer’s stock valued at $76,000 after purchasing an additional 45 shares during the last quarter. FIL Ltd grew its holdings in First Solar by 6.9% in the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer’s stock valued at $185,000 after purchasing an additional 46 shares during the last quarter. Finally, Signaturefd LLC grew its holdings in First Solar by 2.6% in the third quarter. Signaturefd LLC now owns 1,879 shares of the solar cell manufacturer’s stock valued at $414,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.
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.