First Solar (NASDAQ:FSLR) Now Covered by Analysts at DZ Bank

DZ Bank started coverage on shares of First Solar (NASDAQ:FSLR) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $205.00 target price on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Oppenheimer increased their target price on shares of First Solar from $268.00 to $269.00 and gave the stock an outperform rating in a research report on Wednesday, February 28th. Janney Montgomery Scott assumed coverage on shares of First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 target price for the company. Bank of America increased their target price on shares of First Solar from $187.00 to $194.00 and gave the stock a buy rating in a research report on Wednesday, April 10th. Mizuho increased their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a buy rating in a research report on Wednesday, January 3rd. Finally, Susquehanna restated a positive rating and issued a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $227.04.

First Solar Stock Performance

NASDAQ FSLR opened at $178.01 on Wednesday. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a 50-day simple moving average of $160.24 and a 200 day simple moving average of $155.92. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The company has a market capitalization of $19.05 billion, a PE ratio of 23.00, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $1.31 billion. During the same quarter last year, the company posted ($0.07) earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, research analysts predict that First Solar will post 13.55 EPS for the current year.

Insiders Place Their Bets

In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. First Pacific Financial bought a new stake in First Solar in the third quarter valued at $27,000. University of Texas Texas AM Investment Managment Co. bought a new stake in First Solar in the fourth quarter valued at $27,000. Estabrook Capital Management bought a new stake in First Solar in the third quarter valued at $29,000. Baystate Wealth Management LLC bought a new stake in First Solar in the fourth quarter valued at $29,000. Finally, Headinvest LLC bought a new stake in First Solar in the third quarter valued at $30,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.