First Solar (NASDAQ:FSLR) Now Covered by Truist Financial

Truist Financial assumed coverage on shares of First Solar (NASDAQ:FSLR) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage issued a buy rating and a $300.00 price objective on the solar cell manufacturer’s stock.

Several other research firms also recently commented on FSLR. Susquehanna upped their price objective on First Solar from $258.00 to $285.00 and gave the company a positive rating in a research note on Wednesday, July 3rd. Clarkson Capital initiated coverage on First Solar in a research note on Wednesday, August 14th. They set a buy rating and a $270.00 price objective for the company. Piper Sandler upped their price objective on First Solar from $219.00 to $250.00 and gave the company an overweight rating in a research note on Monday, July 22nd. UBS Group upped their price objective on First Solar from $350.00 to $360.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price objective on First Solar from $262.00 to $282.00 and gave the company an overweight rating in a research note on Tuesday, July 16th. Five investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $284.12.

First Solar Stock Up 0.0 %

First Solar stock opened at $255.75 on Thursday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company has a market capitalization of $27.38 billion, a P/E ratio of 26.81, a PEG ratio of 0.42 and a beta of 1.44. The stock has a 50-day simple moving average of $225.51 and a 200-day simple moving average of $216.60.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. During the same period in the previous year, the business earned $1.85 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that First Solar will post 13.62 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction 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 sale, the insider now owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now owns 500 shares in the company, valued at approximately $108,250. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock worth $2,405,757 in the last quarter. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently bought and sold shares of the stock. Oregon Public Employees Retirement Fund grew its holdings in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after buying an additional 49 shares during the last quarter. Cambridge Trust Co. lifted its stake in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares during the period. Great Diamond Partners LLC lifted its stake in shares of First Solar by 3.8% during the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares during the period. Xponance Inc. lifted its stake in shares of First Solar by 0.4% during the 2nd quarter. Xponance Inc. now owns 15,346 shares of the solar cell manufacturer’s stock worth $3,460,000 after purchasing an additional 56 shares during the period. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after purchasing an additional 62 shares during the period. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.