First Solar Receives a Hold from Mizuho Securities

By Ryan Adsit

Mizuho Securities analyst Jim Von Riesemann reiterated a Hold rating on First Solar (NASDAQ: FSLR) today and set a price target of $30. The company’s shares closed yesterday at $32.82, close to its 52-week low of $30.85.

According to TipRanks.com, Riesemann is a 2-star analyst with an average return of 0.6% and a 50.0% success rate. Riesemann covers the Utilities sector, focusing on stocks such as NextEra Energy Inc, Duke Energy Corp., and Eversource Energy.

Currently, the analyst consensus on First Solar is Hold and the average price target is $43, representing a 31.0% upside.

In a report issued on November 3, Oppenheimer also downgraded the stock to Hold.

First Solar’s market cap is currently $3.41B and has a P/E ratio of 6.73. The company has a book value ratio of 0.5736.

Based on the recent corporate insider activity of 108 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FSLR in relation to earlier this year.

First Solar, Inc. operates as a solar energy solutions company. It engages in the designing, manufacturing, marketing and distribution of photovoltaic solar power systems and solar modules with an advanced thin-film semiconductor technology. The company operates in two business segments: Components and Systems. The Components segment designs, manufactures and sells solar modules primarily to solar project developers and system integrators. The Systems segment provides a complete solar power system solution, which includes project development, engineering, procurement and construction services, operating and maintenance services. It also develops sites for building solar power systems using solar modules and provides a complete solar power system solution, which includes project development, engineering, procurement and construction services, operating and maintenance services. The company was founded by Michael J. Ahearn in 1999 and is headquartered in Tempe, AZ.