Rating To Observe: Is It Finally Time To Sell? Macquarie Research Downgrades First Solar Inc (NASDAQ:FSLR)

November 23, 2016 - By Dolores Ford

Rating To Observe: Is It Finally Time To Sell? Macquarie Research Downgrades First Solar Inc (NASDAQ:FSLR)

First Solar Inc (NASDAQ:FSLR) Downgrade

Macquarie Research lowered First Solar Inc (NASDAQ:FSLR)‘s stock to a Neutral rating from a Outperform. This rating change was issued to clients and investors in a an analyst note today.

First Solar, Inc. (NASDAQ:FSLR) Ratings Coverage

Out of 23 analysts covering First Solar Inc. (NASDAQ:FSLR), 8 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 35% are positive. $100.0 is the highest target while $4.49 is the lowest. The $54.58 average target is 84.45% above today’s ($29.59) stock price. First Solar Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. The stock of First Solar, Inc. (NASDAQ:FSLR) earned “Overweight” rating by Barclays Capital on Wednesday, August 10. On Thursday, November 17 the stock rating was maintained by Mizuho with “Neutral”. As per Wednesday, August 5, the company rating was maintained by Needham. Argus Research maintained the shares of FSLR in a report on Thursday, November 5 with “Buy” rating. The stock has “Outperform” rating given by Cowen & Co on Wednesday, August 5. Barclays Capital maintained it with “Overweight” rating and $90 target price in Friday, January 22 report. Mizuho initiated it with “Neutral” rating and $71 target price in Thursday, March 31 report. Standpoint Research upgraded First Solar, Inc. (NASDAQ:FSLR) on Friday, January 15 to “Buy” rating. On Thursday, September 8 the stock rating was initiated by JMP Securities with “Mkt Underperform”. Deutsche Bank maintained it with “Buy” rating and $80 target price in Tuesday, April 26 report.

About 1.58M shares traded hands. First Solar, Inc. (NASDAQ:FSLR) has declined 52.11% since April 21, 2016 and is downtrending. It has underperformed by 57.44% the S&P500.

Insitutional Activity: The institutional sentiment decreased to 0.77 in 2016 Q2. Its down 0.38, from 1.15 in 2016Q1. The ratio dropped, as 73 funds sold all First Solar, Inc. shares owned while 104 reduced positions. 48 funds bought stakes while 155 increased positions. They now own 57.19 million shares or 8.49% less from 62.50 million shares in 2016Q1.

Savings Bank Of Montreal Can last reported 268,672 shares in the company. Numeric Lc holds 0% or 10,400 shares in its portfolio. Cornerstone Advsrs reported 129 shares or 0.01% of all its holdings. Walleye Trading Lc holds 21,354 shares or 0.01% of its portfolio. Jacobs Levy Equity has 0.09% invested in the company for 90,550 shares. Benjamin F Edwards holds 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 800 shares. First Trust Advsr L P holds 0.15% or 960,176 shares in its portfolio. Vident Inv Advisory Ltd Llc last reported 0.23% of its portfolio in the stock. Robeco Institutional Asset Bv accumulated 0.01% or 14,709 shares. Ontario Teachers Pension Plan Board holds 5,756 shares or 0% of its portfolio. Invesco Limited holds 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 434,600 shares. Lansdowne (Uk) Llp has invested 0.02% of its portfolio in First Solar, Inc. (NASDAQ:FSLR). Mutual Of America Mngmt Lc holds 0.01% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 9,069 shares. Hbk Investments Limited Partnership holds 0% of its portfolio in First Solar, Inc. (NASDAQ:FSLR) for 6,389 shares. Deutsche Fincl Bank Ag has 0.02% invested in the company for 477,457 shares.

Insider Transactions: Since August 4, 2016, the stock had 0 insider purchases, and 8 selling transactions for $27.18 million net activity. DeJong Philip sold $2.98 million worth of stock or 67,251 shares. On Thursday, August 4 HUGHES JAMES ALTON sold $8.02M worth of the stock or 180,448 shares. Garabedian Raffi had sold 90,000 shares worth $3.98 million on Thursday, August 4. Widmar Mark R also sold $4.02 million worth of First Solar, Inc. (NASDAQ:FSLR) on Thursday, August 4. Another trade for 29,384 shares valued at $1.30 million was sold by Bueter Christopher. 566 shares were sold by Bradley Alexander R., worth $24,774. $5.96 million worth of First Solar, Inc. (NASDAQ:FSLR) shares were sold by ANTOUN GEORGES.

First Solar, Inc. is a provider of photovoltaic solar energy solutions. The company has a market cap of $3.10 billion. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. It has a 6.05 P/E ratio. The Firm operates through two divisions: components and systems.

According to Zacks Investment Research, “FIRST SOLAR INC. manufactures solar modules with an advanced thin film semiconductor process that significantly lowers solar electricity costs. By enabling clean renewable electricity at affordable prices, First Solar provides an economic alternative to peak conventional electricity and the related fossil fuel dependence, greenhouse gas emissions and peak time grid constraints.”

FSLR Company Profile

First Solar, Inc., incorporated on May 15, 2003, is a well-known provider of photovoltaic (PV) solar energy solutions. The Firm designs, makes and sells PV solar modules with thin-film semiconductor technology, and also develops, designs, constructs and sells PV solar power solutions. The Firm operates through two divisions: components and systems. The Company’s components segment designs, makes and sells solar modules, which convert sunlight into electricity. The Company’s systems segment provides PV solar power systems or solar solutions for systems, which use the Company’s solar modules. The Firm provides activities and maintenance (O&M) services to plant owners that use solar modules manufactured by the Company or by other third-party manufacturers. The Firm has approximately 30 manufacturing lines around the world and over 2.8 gigawatts (GW) of annual manufacturing capacity with lines having a production capability of approximately 2,500 modules per day, totaling approximately 71,600 modules each day across over 30 lines.

More notable recent First Solar, Inc. (NASDAQ:FSLR) news were published by: Cnbc.com which released: “First Solar is taking some bitter medicine. Here’s why it could work” on November 17, 2016, also Cnbc.com with their article: “First Solar plummets after news of global surplus of panels” published on November 03, 2016, Fool.com published: “Better Buy: Canadian Solar Inc. vs. First Solar” on October 28, 2016. More interesting news about First Solar, Inc. (NASDAQ:FSLR) were released by: 247Wallst.com and their article: “Top Analyst Upgrades and Downgrades: Analog Devices, First Solar, Hewlett …” published on November 23, 2016 as well as Seekingalpha.com‘s news article titled: “First Solar: Don’t Rule Out A Turnaround” with publication date: November 15, 2016.

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