DZ Bank Initiates Coverage on First Solar (NASDAQ:FSLR)

Investment analysts at DZ Bank assumed coverage on shares of First Solar (NASDAQ:FSLR) in a research note issued to investors on Wednesday, MarketBeat.com reports. The brokerage set a “buy” rating and a $205.00 price target on the solar cell manufacturer’s stock. DZ Bank’s target price points to a potential upside of 14.83% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. Oppenheimer raised their price target on First Solar from $268.00 to $269.00 and gave the company an “outperform” rating in a report on Wednesday, February 28th. Susquehanna reaffirmed a “positive” rating and set a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Wells Fargo & Company lowered shares of First Solar from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Mizuho boosted their price objective on First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Finally, Bank of America upped their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, First Solar currently has an average rating of “Moderate Buy” and an average price target of $227.04.

First Solar Stock Performance

Shares of FSLR traded up $5.45 during midday trading on Wednesday, reaching $178.53. The stock had a trading volume of 2,645,306 shares, compared to its average volume of 2,073,319. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The firm has a 50 day simple moving average of $159.59 and a 200-day simple moving average of $155.77. The firm has a market cap of $19.11 billion, a PE ratio of 22.98, a P/E/G ratio of 0.30 and a beta of 1.41. First Solar has a one year low of $129.21 and a one year high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that First Solar will post 13.55 EPS for the current year.

Insider Buying and Selling

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 1,937 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares in the company, valued at approximately $2,193,800. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last three months. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently added to or reduced their stakes in FSLR. Raymond James & Associates boosted its position in First Solar by 160.6% during the 1st quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after buying an additional 16,515 shares during the period. American Century Companies Inc. lifted its position in shares of First Solar by 13.8% in the 1st quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after purchasing an additional 1,030 shares during the period. Cibc World Market Inc. lifted its position in shares of First Solar by 71.0% in the 1st quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after purchasing an additional 3,100 shares during the period. Blair William & Co. IL lifted its position in shares of First Solar by 1.8% in the 1st quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock worth $4,198,000 after purchasing an additional 890 shares during the period. Finally, Sei Investments Co. lifted its position in shares of First Solar by 11.6% in the 1st quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock worth $2,161,000 after purchasing an additional 2,691 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.