First Solar (NASDAQ:FSLR) Stock Rating Upgraded by Sanford C. Bernstein

First Solar (NASDAQ:FSLR) was upgraded by Sanford C. Bernstein to a “strong sell” rating in a research note issued to investors on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. UBS Group boosted their price objective on First Solar from $290.00 to $330.00 and gave the company a “buy” rating in a research note on Thursday, June 11th. Robert W. Baird reiterated a “neutral” rating and issued a $205.00 price objective (down from $264.00) on shares of First Solar in a research note on Wednesday, February 25th. TD Cowen reduced their price objective on First Solar from $320.00 to $253.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft cut First Solar from a “buy” rating to a “hold” rating and reduced their price objective for the company from $300.00 to $245.00 in a research note on Wednesday, February 25th. Finally, Argus boosted their price objective on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $249.78.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $254.80 on Tuesday. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. First Solar has a twelve month low of $139.26 and a twelve month high of $320.95. The stock has a 50 day moving average of $236.08 and a two-hundred day moving average of $233.38. The stock has a market cap of $27.38 billion, a P/E ratio of 16.46, a P/E/G ratio of 0.58 and a beta of 1.71.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, April 30th. The solar cell manufacturer reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter in the previous year, the business earned $1.95 earnings per share. The firm’s revenue for the quarter was up 23.6% on a year-over-year basis. On average, research analysts forecast that First Solar will post 17.61 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, insider Caroline Stockdale sold 10,628 shares of the company’s stock in a transaction that occurred on Thursday, May 28th. The stock was sold at an average price of $275.60, for a total transaction of $2,929,076.80. Following the completion of the sale, the insider owned 23,792 shares in the company, valued at $6,557,075.20. This represents a 30.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, General Counsel Jason E. Dymbort sold 409 shares of the company’s stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $88,192.67. Following the sale, the general counsel owned 10,409 shares of the company’s stock, valued at $2,244,492.67. This trade represents a 3.78% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 32,466 shares of company stock valued at $8,014,105. Corporate insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Large investors have recently modified their holdings of the stock. Aventura Private Wealth LLC purchased a new stake in shares of First Solar during the fourth quarter worth approximately $25,000. Reflection Asset Management acquired a new position in First Solar during the fourth quarter worth $26,000. Commonwealth Retirement Investments LLC acquired a new position in First Solar during the fourth quarter worth $26,000. Larson Financial Group LLC grew its holdings in First Solar by 117.0% during the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock worth $27,000 after acquiring an additional 55 shares during the period. Finally, Elyxium Wealth LLC acquired a new position in First Solar during the fourth quarter worth $30,000. Hedge funds and other institutional investors 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.