The Goldman Sachs Group Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price objective raised by The Goldman Sachs Group from $204.00 to $255.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other brokerages have also commented on FSLR. BMO Capital Markets reduced their price target on shares of First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Deutsche Bank Aktiengesellschaft set a $265.00 price target on shares of First Solar in a research note on Thursday, February 27th. Bank of America reduced their price target on shares of First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. JPMorgan Chase & Co. reduced their price target on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating for the company in a research note on Wednesday, February 26th. Finally, Oppenheimer lowered shares of First Solar from an “outperform” rating to a “market perform” rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $226.30.

First Solar Stock Down 2.3%

Shares of First Solar stock opened at $163.37 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $17.52 billion, a PE ratio of 14.07, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. First Solar has a 52-week low of $116.56 and a 52-week high of $306.77. The company has a 50-day simple moving average of $136.85 and a two-hundred day simple moving average of $162.68.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm’s quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $2.20 earnings per share. On average, analysts anticipate that First Solar will post 13.05 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of the business’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $169,125.12. Following the transaction, the chief executive officer now owns 109,000 shares of the company’s stock, valued at approximately $14,492,640. The trade was a 1.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Kuntal Kumar Verma sold 7,475 shares of the business’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the transaction, the insider now directly owns 3,549 shares in the company, valued at $484,793.40. This trade represents a 67.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,311 shares of company stock valued at $4,767,158 over the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds have recently modified their holdings of FSLR. Garde Capital Inc. purchased a new stake in First Solar during the first quarter valued at $25,000. Wealth Preservation Advisors LLC purchased a new stake in First Solar during the first quarter valued at $25,000. Colonial Trust Advisors purchased a new stake in First Solar during the first quarter valued at $32,000. Larson Financial Group LLC raised its stake in First Solar by 591.9% during the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares in the last quarter. Hedge funds and other institutional investors 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.