Guggenheim Reaffirms Neutral Rating for First Solar (FSLR)

First Solar (NASDAQ:FSLR)‘s stock had its “neutral” rating restated by equities research analysts at Guggenheim in a research report issued to clients and investors on Thursday. The analysts noted that the move was a valuation call.

Several other brokerages also recently issued reports on FSLR. Vetr downgraded shares of First Solar from a “sell” rating to a “strong sell” rating and set a $65.52 target price on the stock. in a research note on Thursday, January 11th. BidaskClub raised shares of First Solar from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, December 12th. Zacks Investment Research raised shares of First Solar from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Tuesday, December 12th. Robert W. Baird raised shares of First Solar from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $69.00 to $82.00 in a research note on Monday, December 11th. Finally, Roth Capital set a $80.00 price target on shares of First Solar and gave the stock a “buy” rating in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and twelve have given a buy rating to the company’s stock. First Solar presently has an average rating of “Hold” and an average target price of $63.13.

Shares of First Solar (FSLR) traded up $0.78 during trading hours on Thursday, reaching $72.00. 1,576,400 shares of the company’s stock traded hands, compared to its average volume of 2,319,000. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. First Solar has a 52 week low of $25.56 and a 52 week high of $76.61. The firm has a market cap of $7,430.00, a P/E ratio of -17.31 and a beta of 2.04.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The company had revenue of $1.09 billion for the quarter, compared to the consensus estimate of $859.22 million. During the same period in the previous year, the business earned $1.22 EPS. The company’s revenue was up 59.5% on a year-over-year basis. analysts expect that First Solar will post 2.52 EPS for the current year.

In related news, COO Philip Dejong sold 15,304 shares of the company’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $67.83, for a total value of $1,038,070.32. Following the completion of the sale, the chief operating officer now directly owns 10,424 shares in the company, valued at $707,059.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raffi Garabedian sold 11,284 shares of the company’s stock in a transaction on Monday, December 18th. The stock was sold at an average price of $70.06, for a total transaction of $790,557.04. Following the completion of the sale, the insider now owns 9,227 shares of the company’s stock, valued at $646,443.62. The disclosure for this sale can be found here. Insiders sold 46,858 shares of company stock valued at $3,134,015 over the last quarter. 0.58% of the stock is currently owned by corporate insiders.

Large investors have recently modified their holdings of the stock. CAPROCK Group Inc. bought a new stake in First Solar during the fourth quarter valued at about $259,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in First Solar by 64.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,383 shares of the solar cell manufacturer’s stock valued at $201,000 after acquiring an additional 1,716 shares during the period. Garner Asset Management Corp bought a new stake in First Solar during the second quarter valued at about $208,000. Riverhead Capital Management LLC boosted its holdings in First Solar by 82.6% during the second quarter. Riverhead Capital Management LLC now owns 5,660 shares of the solar cell manufacturer’s stock valued at $226,000 after acquiring an additional 2,560 shares during the period. Finally, B. Riley Financial Inc. bought a new stake in First Solar during the third quarter valued at about $265,000. Hedge funds and other institutional investors own 50.88% of the company’s stock.

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About First Solar

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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