First Solar (NASDAQ:FSLR) Price Target Raised to $275.00

First Solar (NASDAQ:FSLR) had its price target lifted by Argus from $250.00 to $275.00 in a research report report published on Wednesday,MarketScreener reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

Several other brokerages have also commented on FSLR. Bank of America cut their target price on First Solar from $291.00 to $271.00 and set a “buy” rating on the stock in a research report on Thursday, January 22nd. Robert W. Baird restated a “neutral” rating and set a $205.00 target price (down from $264.00) on shares of First Solar in a research report on Wednesday, February 25th. Royal Bank Of Canada cut their target price on First Solar from $258.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Citigroup dropped their price target on First Solar from $300.00 to $243.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Finally, HSBC upped their price target on First Solar from $211.00 to $231.00 and gave the stock a “hold” rating in a research note on Tuesday, May 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $247.03.

First Solar Stock Up 0.8%

Shares of First Solar stock opened at $233.37 on Wednesday. First Solar has a one year low of $135.50 and a one year high of $285.99. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.56 and a quick ratio of 2.15. The stock’s 50-day moving average is $200.53 and its 200 day moving average is $231.41. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 0.51 and a beta of 1.57.

First Solar (NASDAQ:FSLR) last announced its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the prior year, the company earned $1.95 EPS. The firm’s revenue for the quarter was up 23.6% compared to the same quarter last year. Equities research analysts anticipate that First Solar will post 17.64 EPS for the current year.

Insider Buying and Selling at First Solar

In related news, General Counsel Jason E. Dymbort sold 9,022 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.62, for a total transaction of $1,800,971.64. Following the transaction, the general counsel directly owned 9,850 shares of the company’s stock, valued at approximately $1,966,257. This represents a 47.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Alexander R. Bradley sold 14,106 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total value of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares in the company, valued at approximately $5,999,100. This trade represents a 31.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 92,430 shares of company stock worth $18,670,055 in the last quarter. Company insiders own 0.39% of the company’s stock.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently modified their holdings of the stock. Joule Financial LLC purchased a new stake in First Solar during the third quarter worth about $950,000. Mirae Asset Global Investments Co. Ltd. increased its holdings in First Solar by 22.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 77,155 shares of the solar cell manufacturer’s stock worth $17,015,000 after buying an additional 13,904 shares during the last quarter. Belpointe Asset Management LLC purchased a new stake in First Solar during the third quarter worth about $1,193,000. National Pension Service increased its holdings in First Solar by 24.1% during the third quarter. National Pension Service now owns 41,419 shares of the solar cell manufacturer’s stock worth $9,134,000 after buying an additional 8,036 shares during the last quarter. Finally, Candriam S.C.A. increased its holdings in First Solar by 70.2% during the third quarter. Candriam S.C.A. now owns 150,379 shares of the solar cell manufacturer’s stock worth $33,163,000 after buying an additional 62,048 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.