First Solar, Inc. (NASDAQ:FSLR) Stock Has Average Target Price of $266.53

First Solar, Inc. (NASDAQ:FSLR) has been given a consensus rating of “Moderate Buy” by the thirty-seven analysts that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $266.23.

A number of equities analysts have recently weighed in on FSLR shares. HC Wainwright assumed coverage on shares of First Solar in a research report on Thursday, August 27th. They set a “buy” rating on the stock. Jefferies Financial Group set a $196.00 price objective on First Solar in a research note on Monday, August 3rd. UBS Group lifted their target price on First Solar from $290.00 to $330.00 and gave the stock a “buy” rating in a report on Thursday, June 11th. Wells Fargo & Company boosted their target price on First Solar from $300.00 to $313.00 and gave the company an “overweight” rating in a research note on Friday, August 7th. Finally, Argus reaffirmed a “buy” rating and set a $275.00 price target on shares of First Solar in a research report on Wednesday, August 26th.

First Solar Stock Up 2.1%

FSLR stock opened at $179.80 on Wednesday. First Solar has a twelve month low of $168.60 and a twelve month high of $320.95. The company has a market cap of $19.32 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 0.47 and a beta of 1.80. The business’s fifty day moving average is $206.50 and its 200-day moving average is $219.88.

First Solar (NASDAQ:FSLR) last issued its earnings results on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $1.02. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.06 billion. First Solar had a return on equity of 18.02% and a net margin of 32.47%.The company’s revenue was down 3.4% compared to the same quarter last year. During the same quarter last year, the business earned $3.18 earnings per share. Research analysts anticipate that First Solar will post 17.64 earnings per share for the current fiscal year.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 800 shares of the company’s stock in a transaction on Thursday, October 1st. The shares were sold at an average price of $174.00, for a total value of $139,200.00. Following the completion of the transaction, the chief technology officer directly owned 5,042 shares of the company’s stock, valued at approximately $877,308. This represents a 13.69% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of the business’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total value of $1,550,570.00. Following the completion of the sale, the insider owned 7,642 shares in the company, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 16,681 shares of company stock valued at $3,756,286. 0.39% of the stock is owned by insiders.

Institutional Trading of First Solar

Institutional investors have recently made changes to their positions in the business. Doliver Advisors LP boosted its holdings in First Solar by 11.3% during the third quarter. Doliver Advisors LP now owns 4,271 shares of the solar cell manufacturer’s stock worth $748,000 after purchasing an additional 435 shares during the last quarter. QRG Capital Management Inc. increased its stake in First Solar by 5.7% in the 2nd quarter. QRG Capital Management Inc. now owns 8,017 shares of the solar cell manufacturer’s stock valued at $1,892,000 after buying an additional 435 shares during the last quarter. Andra AP fonden lifted its position in First Solar by 25.1% during the 2nd quarter. Andra AP fonden now owns 97,856 shares of the solar cell manufacturer’s stock worth $23,090,000 after buying an additional 19,607 shares in the last quarter. Tidal Investments LLC boosted its stake in shares of First Solar by 100.5% during the 2nd quarter. Tidal Investments LLC now owns 61,768 shares of the solar cell manufacturer’s stock worth $14,575,000 after buying an additional 30,967 shares during the last quarter. Finally, Van Hulzen Asset Management LLC acquired a new position in shares of First Solar during the 2nd quarter worth about $232,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc is a solar technology and manufacturing company that designs and produces photovoltaic (PV) solar modules for utility-scale power projects. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe), which the company says can provide advantages in energy yield, temperature performance and lifecycle sustainability.

The company’s product portfolio includes its Series 6 and Series 7 thin-film solar modules, along with related services such as technical support, module recycling and end-of-life collection.