First Solar, Inc. (FSLR) Lowered to Hold at Standpoint Research

Standpoint Research downgraded shares of First Solar, Inc. (NASDAQ:FSLR) from a buy rating to a hold rating in a report released on Wednesday, July 19th, MarketBeat Ratings reports.

Several other analysts also recently commented on the stock. Roth Capital upgraded shares of First Solar from a neutral rating to a buy rating and set a $40.00 target price on the stock in a report on Thursday, April 27th. BidaskClub upgraded shares of First Solar from a hold rating to a buy rating in a report on Wednesday, June 28th. Cowen and Company set a $40.00 price objective on shares of First Solar and gave the company a buy rating in a report on Monday, July 10th. Vetr cut shares of First Solar from a strong-buy rating to a buy rating and set a $47.53 target price for the company. in a research note on Monday, July 17th. Finally, Axiom Securities raised shares of First Solar from a hold rating to a buy rating and raised their target price for the company from $45.40 to $51.00 in a research note on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $43.35.

Shares of First Solar (NASDAQ:FSLR) traded up 1.69% during trading on Wednesday, hitting $47.54. 1,013,896 shares of the company were exchanged. First Solar has a 12 month low of $25.56 and a 12 month high of $50.21. The company’s 50-day moving average price is $43.93 and its 200 day moving average price is $35.65. The stock’s market cap is $4.96 billion.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 27th. The solar cell manufacturer reported $0.64 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.60. The company had revenue of $623 million for the quarter, compared to analyst estimates of $591.55 million. First Solar had a negative net margin of 18.80% and a positive return on equity of 6.43%. The company’s revenue for the quarter was down 38.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.87 EPS. On average, equities analysts predict that First Solar will post $2.11 earnings per share for the current fiscal year.

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In other news, CEO Mark R. Widmar sold 43,189 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $48.55, for a total transaction of $2,096,825.95. Following the transaction, the chief executive officer now directly owns 107,454 shares of the company’s stock, valued at $5,216,891.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan Robert Schumaker sold 1,235 shares of the company’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $40.00, for a total value of $49,400.00. The disclosure for this sale can be found here. Insiders have sold 95,909 shares of company stock worth $4,705,246 over the last ninety days. 0.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. Bank of Nova Scotia bought a new stake in First Solar during the first quarter worth approximately $212,000. Benjamin F. Edwards & Company Inc. raised its stake in First Solar by 57.6% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 2,600 shares of the solar cell manufacturer’s stock worth $104,000 after buying an additional 950 shares during the last quarter. Fiduciary Trust Co. bought a new stake in First Solar during the second quarter worth approximately $128,000. Amica Retiree Medical Trust raised its stake in First Solar by 814.5% in the first quarter. Amica Retiree Medical Trust now owns 4,097 shares of the solar cell manufacturer’s stock worth $111,000 after buying an additional 3,649 shares during the last quarter. Finally, NEXT Financial Group Inc raised its stake in First Solar by 23.9% in the second quarter. NEXT Financial Group Inc now owns 5,050 shares of the solar cell manufacturer’s stock worth $201,000 after buying an additional 975 shares during the last quarter. 60.75% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.

Analyst Recommendations for First Solar (NASDAQ:FSLR)

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