First Solar, Inc. (FSLR) Receives “Hold” Rating from Deutsche Bank AG

Deutsche Bank AG reaffirmed their hold rating on shares of First Solar, Inc. (NASDAQ:FSLR) in a research note issued to investors on Wednesday, May 3rd. They currently have a $36.00 price objective on the solar cell manufacturer’s stock, up from their prior price objective of $32.00.

FSLR has been the topic of several other reports. Vetr downgraded shares of First Solar from a buy rating to a hold rating and set a $33.62 target price on the stock. in a research note on Tuesday, March 7th. Axiom Securities upgraded shares of First Solar from a sell rating to a hold rating and lowered their price target for the company from $30.32 to $21.00 in a report on Wednesday, May 3rd. JPMorgan Chase & Co. cut shares of First Solar to a hold rating and set a $38.00 price target on the stock. in a report on Saturday, March 25th. Credit Suisse Group AG cut shares of First Solar from a neutral rating to an underperform rating and set a $29.00 price target on the stock. in a report on Wednesday, February 22nd. Finally, Robert W. Baird restated an outperform rating on shares of First Solar in a report on Wednesday, May 3rd. Two equities research analysts have rated the stock with a sell rating, nineteen have given a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $41.08.

Shares of First Solar (NASDAQ:FSLR) traded up 4.7303% during mid-day trading on Wednesday, hitting $36.6137. The stock had a trading volume of 1,609,942 shares. First Solar has a one year low of $25.56 and a one year high of $51.33. The company’s market cap is $3.82 billion. The firm’s 50 day moving average price is $30.37 and its 200-day moving average price is $32.29.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, May 2nd. The solar cell manufacturer reported $0.25 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.38. First Solar had a net margin of 14.72% and a return on equity of 9.58%. The company had revenue of $891.79 million for the quarter, compared to the consensus estimate of $699.15 million. On average, equities research analysts anticipate that First Solar will post $0.54 earnings per share for the current fiscal year.

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In related news, EVP Paul J. Kaleta sold 8,492 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of $33.69, for a total transaction of $286,095.48. Following the transaction, the executive vice president now owns 23,696 shares in the company, valued at approximately $798,318.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director J Thomas Presby bought 4,000 shares of the company’s stock in a transaction that occurred on Thursday, May 11th. The shares were bought at an average price of $36.89 per share, for a total transaction of $147,560.00. Following the transaction, the director now directly owns 17,958 shares in the company, valued at $662,470.62. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 13,850 shares of company stock worth $466,402. Insiders own 0.40% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Capital World Investors increased its position in First Solar by 147.0% in the third quarter. Capital World Investors now owns 7,100,000 shares of the solar cell manufacturer’s stock worth $280,379,000 after buying an additional 4,225,000 shares during the last quarter. BlackRock Inc. increased its position in First Solar by 7,977.6% in the first quarter. BlackRock Inc. now owns 6,922,544 shares of the solar cell manufacturer’s stock valued at $187,601,000 after buying an additional 6,836,843 shares during the last quarter. Franklin Resources Inc. increased its position in First Solar by 5,075.3% in the fourth quarter. Franklin Resources Inc. now owns 6,269,614 shares of the solar cell manufacturer’s stock valued at $201,193,000 after buying an additional 6,148,469 shares during the last quarter. Wellington Management Group LLP increased its position in First Solar by 28.8% in the first quarter. Wellington Management Group LLP now owns 3,038,924 shares of the solar cell manufacturer’s stock valued at $82,356,000 after buying an additional 679,898 shares during the last quarter. Finally, State Street Corp increased its position in First Solar by 5.6% in the fourth quarter. State Street Corp now owns 2,981,311 shares of the solar cell manufacturer’s stock valued at $95,668,000 after buying an additional 158,568 shares during the last quarter. Institutional investors own 58.02% of the company’s stock.

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.

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