Barclays Increases First Solar (NASDAQ:FSLR) Price Target to $227.00

First Solar (NASDAQ:FSLR) had its price objective boosted by equities researchers at Barclays from $224.00 to $227.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price objective would suggest a potential upside of 29.68% from the stock’s current price.

Several other equities analysts have also issued reports on the company. DZ Bank started coverage on First Solar in a research report on Wednesday. They issued a “buy” rating and a $205.00 price objective for the company. Mizuho boosted their price objective on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $187.00 to $250.00 in a research report on Friday. Janney Montgomery Scott started coverage on First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective for the company. Finally, Roth Mkm reiterated a “buy” rating and issued a $230.00 price objective on shares of First Solar in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus price target of $229.68.

First Solar Price Performance

First Solar stock opened at $175.04 on Friday. The firm has a market capitalization of $18.74 billion, a P/E ratio of 22.61, a PEG ratio of 0.30 and a beta of 1.41. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The business has a 50-day moving average of $161.34 and a 200-day moving average of $156.21. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.07) EPS. On average, equities analysts anticipate that First Solar will post 13.55 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, insider Kuntal Kumar Verma sold 787 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $125,920.00. Following the completion of the sale, the insider now owns 4,920 shares of the company’s stock, valued at approximately $787,200. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently added to or reduced their stakes in the business. Advisory Services Network LLC lifted its holdings in shares of First Solar by 5.2% during the first quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer’s stock worth $217,000 after buying an additional 49 shares in the last quarter. Balentine LLC lifted its holdings in shares of First Solar by 2.7% during the second quarter. Balentine LLC now owns 1,970 shares of the solar cell manufacturer’s stock worth $374,000 after buying an additional 51 shares in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of First Solar by 2.0% during the first quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer’s stock worth $675,000 after buying an additional 60 shares in the last quarter. SVB Wealth LLC lifted its holdings in shares of First Solar by 2.1% during the first quarter. SVB Wealth LLC now owns 3,439 shares of the solar cell manufacturer’s stock worth $748,000 after buying an additional 71 shares in the last quarter. Finally, Harbor Investment Advisory LLC lifted its holdings in shares of First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after buying an additional 72 shares in the last quarter. Institutional investors and hedge funds 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.