Revenue Update on First Solar(NASDAQ:FSLR)

First Solar(NASDAQ:FSLR) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during After-hours on Aug 3, 2016. Company reported revenue of $934.38M. Analysts estimated a revenue of $865.37M. Earnings per share were $0.87. Analysts had estimated an EPS of $0.55.

In a different note, On Jul 7, 2016, Deutsche Bank said it Downgrades its rating on First Solar. In the research note, the firm Lowers the price-target to $80.00 per share. The shares have been rated ‘Hold’ by the firm. Wells Fargo said it Initiates Coverage on First Solar, according to a research note issued on Jun 2, 2016. The shares have been rated ‘Market Perform’ by the firm. On May 18, 2016, Argus Research said it Maintains its rating on First Solar. In the research note, the firm Lowers the price-target to $90.00 per share. The shares have been rated ‘Buy’ by the firm.

First Solar (FSLR) shares turned negative on Fridays trading session with the shares closing down -0.22 points or -0.56% at a volume of 32,54,565. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $39.12. The peak price level was also seen at $39.12 while the days lowest was $38.23. Finally the shares closed at $38.79. The 52-week high of the shares is $74.29 while the 52-week low is $36.83. According to the latest information available, the market cap of the company is $3,971 M.

Several Insider Transactions has been reported to the SEC. On May 3, 2016, James Alton Hughes (Chief Executive Officer) sold 12,884 shares at $55.53 per share price.Also, On Apr 18, 2016, Timothy Brian Rebhorn (EVP, Corp Dev & Strategic Mktg) sold 18,335 shares at $61.27 per share price.On Apr 14, 2016, Raffi Garabedian (Chief Technology Officer) sold 2,467 shares at $61.25 per share price, according to the Form-4 filing with the securities and exchange commission.

First Solar Inc. is a global provider of solar energy solutions. The Company designs manufactures and sells photovoltaic (PV) solar modules and also develops designs constructs and sells PV solar power solutions. The Company operates through two segments: components and systems. The Company’s components segment involves the design manufacture and sale of solar modules which convert sunlight into electricity. The systems segment provides turn-key PV solar power systems or solar solutions for systems primarily using its solar modules. The Company also manufactures crystalline silicon solar modules and single-axis mounting systems with tracking capabilities. The Company offers its products and services for residential commercial and industrial applications including solar power system project developers system integrators and solar plant operators throughout the Americas Asia Australia the Middle East and Africa.

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