Todays Report: The First Solar Inc. (FSLR) Receives New Coverage from Analysts at Piper Jaffray Cos.

The First Solar Inc. (FSLR) Receives New Coverage from Analysts at Piper Jaffray Cos.

Piper Jaffray Cos. assumed coverage on shares of First Solar Inc. (NASDAQ:FSLR) in a report published on Monday morning. The firm issued a neutral rating and a $43.00 price objective on the solar cell manufacturer’s stock.

FSLR has been the topic of a number of other research reports. Robert W. Baird reissued an outperform rating and issued a $60.00 target price (down previously from $68.00) on shares of First Solar in a report on Friday, July 8th. Morgan Stanley set a $59.00 target price on shares of First Solar and gave the stock a hold rating in a report on Wednesday, August 3rd. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $56.00 target price on shares of First Solar in a report on Friday, August 5th. Vetr raised shares of First Solar from a hold rating to a buy rating and set a $50.01 target price on the stock in a report on Tuesday, July 26th. Finally, Williams Capital began coverage on shares of First Solar in a report on Friday, September 30th. They issued a buy rating and a $50.00 target price on the stock. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and twelve have assigned a buy rating to the company’s stock. First Solar currently has a consensus rating of Hold and a consensus target price of $56.28.

Shares of First Solar (NASDAQ:FSLR) opened at 38.68 on Monday. The company has a 50 day moving average price of $37.53 and a 200-day moving average price of $47.40. The firm has a market cap of $3.96 billion, a PE ratio of 5.70 and a beta of 1.54. First Solar has a 12-month low of $33.74 and a 12-month high of $74.29.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, August 3rd. The solar cell manufacturer reported $0.87 EPS for the quarter, topping the consensus estimate of $0.55 by $0.32. First Solar had a net margin of 17.45% and a return on equity of 13.78%. The business had revenue of $934.40 million for the quarter, compared to analysts’ expectations of $862.68 million. During the same quarter last year, the company posted $0.93 earnings per share. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. Analysts expect that First Solar will post $4.25 EPS for the current year.

In other First Solar news, EVP Christopher Bueter sold 29,384 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.23, for a total transaction of $1,299,654.32. Following the sale, the executive vice president now directly owns 17,718 shares of the company’s stock, valued at $783,667.14. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James Alton Hughes sold 180,448 shares of the company’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $44.43, for a total transaction of $8,017,304.64. Following the sale, the director now directly owns 201,577 shares in the company, valued at $8,956,066.11. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in FSLR. BOKF NA increased its stake in shares of First Solar by 3.8% in the second quarter. BOKF NA now owns 2,202 shares of the solar cell manufacturer’s stock worth $106,000 after buying an additional 81 shares during the last quarter. LS Investment Advisors LLC increased its stake in shares of First Solar by 27.2% in the second quarter. LS Investment Advisors LLC now owns 2,782 shares of the solar cell manufacturer’s stock worth $135,000 after buying an additional 595 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of First Solar during the second quarter worth about $141,000. Pacad Investment Ltd. purchased a new stake in shares of First Solar during the second quarter worth about $141,000. Finally, Northwestern Mutual Investment Management Company LLC increased its stake in shares of First Solar by 0.4% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 2,924 shares of the solar cell manufacturer’s stock worth $142,000 after buying an additional 11 shares during the last quarter. 57.51% of the stock is currently owned by institutional investors and hedge funds.

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