First Solar (NASDAQ:FSLR) Upgraded at Seaport Res Ptn

First Solar (NASDAQ:FSLR) was upgraded by analysts at Seaport Res Ptn to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

A number of other brokerages also recently issued reports on FSLR. Susquehanna cut their target price on First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a research note on Wednesday, October 30th. Barclays raised their price objective on shares of First Solar from $280.00 to $290.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Guggenheim decreased their target price on shares of First Solar from $368.00 to $335.00 and set a “buy” rating on the stock in a report on Wednesday, October 30th. Clarkson Capital began coverage on shares of First Solar in a research report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. Finally, UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $281.13.

First Solar Stock Performance

NASDAQ:FSLR opened at $215.89 on Tuesday. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77. The company has a market cap of $23.11 billion, a P/E ratio of 18.60, a P/E/G ratio of 0.36 and a beta of 1.48. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company’s 50-day moving average price is $221.26 and its 200-day moving average price is $224.87.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). The company had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 earnings per share. On average, sell-side analysts forecast that First Solar will post 13.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the business. AlphaMark Advisors LLC acquired a new stake in First Solar during the 3rd quarter worth $25,000. Kennebec Savings Bank acquired a new stake in shares of First Solar during the third quarter worth about $29,000. Atlas Capital Advisors LLC grew its holdings in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock worth $31,000 after buying an additional 111 shares during the last quarter. Summit Securities Group LLC acquired a new position in First Solar in the 2nd quarter valued at about $36,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in First Solar during the 2nd quarter valued at approximately $38,000. 92.08% of the stock is currently 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.