First Solar (NASDAQ:FSLR) Price Target Raised to $252.00

First Solar (NASDAQ:FSLR) had its price target raised by UBS Group from $250.00 to $252.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other research analysts have also commented on FSLR. Oppenheimer lifted their price target on First Solar from $269.00 to $271.00 and gave the stock an outperform rating in a research report on Thursday. Janney Montgomery Scott assumed coverage on shares of First Solar in a report on Friday, April 12th. They issued a buy rating and a $236.00 target price for the company. Jefferies Financial Group increased their price objective on shares of First Solar from $209.50 to $211.00 and gave the stock a buy rating in a research report on Thursday. The Goldman Sachs Group boosted their price objective on First Solar from $265.00 to $268.00 and gave the company a buy rating in a report on Thursday. Finally, Royal Bank of Canada reiterated an outperform rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $238.16.

First Solar Stock Performance

NASDAQ FSLR opened at $191.55 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00. The business has a 50 day simple moving average of $166.57 and a two-hundred day simple moving average of $158.31. The stock has a market capitalization of $20.50 billion, a PE ratio of 20.08, a P/E/G ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. First Solar’s quarterly revenue was up 44.8% on a year-over-year basis. On average, research analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Norges Bank acquired a new position in First Solar in the 4th quarter valued at about $298,123,000. Clean Energy Transition LLP lifted its stake in First Solar by 948.8% during the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. Barclays PLC boosted its position in shares of First Solar by 125.5% during the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock worth $137,130,000 after buying an additional 472,327 shares during the period. Schroder Investment Management Group grew its stake in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after buying an additional 351,540 shares in the last quarter. Finally, Covalis Capital LLP lifted its stake in First Solar by 615.6% during the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock worth $65,931,000 after acquiring an additional 350,996 shares in the last quarter. Institutional investors and hedge funds own 92.08% of the company’s stock.

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.