Finally Time To Cut Your Stake? Needham Downgrades First Solar (NASDAQ:FSLR) Shares


First Solar (NASDAQ:FSLR) Receives a Downgrade

In a very recent research note issued to clients today, Needham lowered shares of First Solar (NASDAQ:FSLR) to a “Hold” rating from the previous “Buy” rating.

From a total of 18 analysts covering First Solar Inc. (NASDAQ:FSLR) stock, 11 rate it a ”Buy”, 1 a “Sell”, and 8 a ”Hold”. This means that 55% of the ratings are positive. The highest target price is $81 while the lowest target price is $38. The mean of all analyst targets is $64.47 with a -6.37% below today’s ($53.34) stock price. First Solar Inc. was the topic of 13 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Standpoint Research downgraded shares on December 9 to “Hold” rating. Oppenheimer initiated shares with “Outperform” rating and $61 target share price in a report from a September 9. Macquarie Research initiated FSLR stock in a recent report from November 6 with “Outperform” rating. Barclays Capital initiated the rating on September 1. Barclays Capital has a “Overweight” rating and a $71 price target on shares. Finally, Avondale initiated the stock with “Market Perform” rating in a report issued on an October 1.

Approximately 69,485 shares of stock traded hands. First Solar, Inc. (NASDAQ:FSLR) has risen 4.49% since May 7, 2015 and is uptrending. It has outperformed by 6.43% the S&P500.

The overall sentiment of institutions has increased to 1.5 in Q2 2015. Its up 0.42, from 1.08 in 2015Q2. The ratio increased, as 39 institutions have sold all the shares of First Solar, Inc. that they owned while 92 funds have taken shares off the table. 55 funds have purchased shares for the first time while 141 added to their positions. These institutions now hold 60.66 million shares or 14.06% more than the 53.18 million shares they owned in 2015Q2.

The Fund Ecofin Ltd currently is holding shares equating to 8.13% of its total portfolio in First Solar, Inc. representing a total of 989,738 shares. Another fund,Lorem Ipsum Management Llc, is holding a total of 350,000 shares equating to 6.83% of their holdings. Additionally, Domini Social Investments Llc has a 9,632 share stake in First Solar, Inc. which represents 6.73% of their total portfolio. The Fund, Oceanic Investment Management Ltd, based out of Isle Of Man, has also built up a stake in the stock, which represents a total of 4.95% of their total portfolio. Finally Zevin Asset Management Llc, a fund which is based in the state of Massachusetts reported a total holdings of 182,301 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 17, 2015, shareholders of First Solar, Inc. have witnessed 0 buys, and a total of 2 sales equating to a net activity of approximately $576,792 . Hughes James Alton sold 3,000 shares worth approximately $156,360. Antoun Georges sold 9,497 shares worth approximately $420,432. Presby J Thomas sold 3,498 shares worth approximately $200,086.

First Solar, Inc. is a global provider of solar energy solutions. The company has a market cap of $5.96 billion. The Firm designs, makes and sells photovoltaic solar modules, and also develops, designs, constructs and sells PV solar power solutions. It has 10.46 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.” Get a free copy of the Zacks research report on First Solar, Inc. (FSLR).