Roth Mkm Trims First Solar (NASDAQ:FSLR) Target Price to $280.00

First Solar (NASDAQ:FSLR) had its price target trimmed by Roth Mkm from $320.00 to $280.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. BMO Capital Markets dropped their target price on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday, July 31st. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a research report on Wednesday, October 9th. Susquehanna boosted their target price on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research report on Wednesday, July 3rd. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a research note on Tuesday, June 18th. Finally, Truist Financial initiated coverage on First Solar in a research note on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective on the stock. Three equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $287.75.

First Solar Price Performance

NASDAQ:FSLR opened at $200.55 on Tuesday. The stock has a market cap of $21.47 billion, a PE ratio of 21.02, a P/E/G ratio of 0.38 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The business’s 50-day simple moving average is $226.97 and its two-hundred day simple moving average is $222.44. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. During the same quarter last year, the company earned $1.85 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that First Solar will post 13.53 EPS for the current fiscal year.

Insider Activity

In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar during the 1st quarter worth $25,000. AlphaMark Advisors LLC bought a new position in shares of First Solar during the 3rd quarter worth $25,000. Atlas Capital Advisors LLC increased its stake in shares of First Solar by 411.1% during the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Riverview Trust Co bought a new stake in shares of First Solar in the first quarter valued at about $32,000. Finally, Summit Securities Group LLC purchased a new stake in First Solar in the second quarter worth about $36,000. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.