Evercore ISI Upgrades First Solar (NASDAQ:FSLR) to Outperform

First Solar (NASDAQ:FSLR) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Tuesday, Marketbeat.com reports. The brokerage presently has a $227.00 price objective on the solar cell manufacturer’s stock. Evercore ISI’s target price would suggest a potential upside of 27.90% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. DZ Bank assumed coverage on shares of First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price target on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $269.00 target price on shares of First Solar in a research note on Wednesday, April 17th. Roth Mkm reaffirmed a “buy” rating and set a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Mizuho lifted their target price on shares of First Solar from $188.00 to $196.00 and gave the stock a “buy” rating in a research note on Wednesday, January 3rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $231.36.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $177.48 on Tuesday. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 22.93, a PEG ratio of 0.30 and a beta of 1.41. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. The firm’s 50 day simple moving average is $162.66 and its 200-day simple moving average is $156.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The business had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) EPS. Analysts expect that First Solar will post 13.55 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Family Legacy Inc. grew its position in shares of First Solar by 1.4% during the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after buying an additional 69 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in First Solar by 26.4% in the first quarter. V Square Quantitative Management LLC now owns 2,010 shares of the solar cell manufacturer’s stock valued at $339,000 after purchasing an additional 420 shares in the last quarter. Demars Financial Group LLC acquired a new position in First Solar in the first quarter valued at approximately $698,000. Silver Lake Advisory LLC boosted its holdings in First Solar by 9.8% in the first quarter. Silver Lake Advisory LLC now owns 29,724 shares of the solar cell manufacturer’s stock valued at $5,017,000 after purchasing an additional 2,657 shares in the last quarter. Finally, Community Financial Services Group LLC acquired a new position in First Solar in the first quarter valued at approximately $260,000. 92.08% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.