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

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

Other research analysts also recently issued research reports about the company. Clarkson Capital began coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price on the stock. Oppenheimer lifted their price target on shares of First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Guggenheim reduced their price objective on shares of First Solar from $368.00 to $335.00 and set a “buy” rating for the company in a research note on Wednesday, October 30th. Morgan Stanley decreased their target price on First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 30th. Finally, Susquehanna dropped their price objective on shares of First Solar from $280.00 to $252.00 and set a “positive” rating for the company in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Price Performance

FSLR opened at $215.89 on Tuesday. The company’s 50-day simple moving average is $221.26 and its two-hundred day simple moving average is $224.87. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization 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. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77.

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

Insider Buying and Selling

In other news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The shares were 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 can be accessed through the SEC website. 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 stock was 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 directly owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. 0.58% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Credit Capital Investments LLC grew its holdings in First Solar by 1.1% in the third quarter. Credit Capital Investments LLC now owns 24,700 shares of the solar cell manufacturer’s stock valued at $6,161,000 after purchasing an additional 270 shares during the period. Oppenheimer & Co. Inc. raised its stake in shares of First Solar by 239.8% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 3,153 shares of the solar cell manufacturer’s stock worth $786,000 after buying an additional 2,225 shares during the period. Saturna Capital Corp lifted its position in shares of First Solar by 2.5% during the 3rd quarter. Saturna Capital Corp now owns 5,204 shares of the solar cell manufacturer’s stock valued at $1,298,000 after buying an additional 129 shares in the last quarter. Mengis Capital Management Inc. grew its stake in First Solar by 2.0% in the 3rd quarter. Mengis Capital Management Inc. now owns 6,162 shares of the solar cell manufacturer’s stock valued at $1,537,000 after acquiring an additional 120 shares during the period. Finally, Simmons Bank purchased a new stake in First Solar in the 3rd quarter worth $225,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

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.