First Solar (NASDAQ:FSLR) Earns Outperform Rating from Oppenheimer

Oppenheimer reaffirmed their outperform rating on shares of First Solar (NASDAQ:FSLR) in a research report released on Wednesday morning, Benzinga reports. The brokerage currently has a $269.00 price target on the solar cell manufacturer’s stock.

A number of other equities research analysts have also weighed in on the stock. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 target price on the stock. Mizuho increased their price target on First Solar from $188.00 to $196.00 and gave the company a buy rating in a report on Wednesday, January 3rd. Bank of America lifted their price objective on First Solar from $187.00 to $194.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Finally, Susquehanna reiterated a positive rating and set a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, First Solar currently has an average rating of Moderate Buy and a consensus target price of $229.68.

First Solar Stock Up 0.4 %

Shares of NASDAQ FSLR opened at $175.04 on Wednesday. The stock has a fifty day moving average price of $161.34 and a 200 day moving average price of $156.18. The company has a market cap of $18.74 billion, a P/E ratio of 22.61, a P/E/G ratio of 0.31 and a beta of 1.41. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. 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, beating analysts’ consensus estimates of $3.19 by $0.06. The business 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 quarter last year, the firm earned ($0.07) earnings per share. Research analysts anticipate that First Solar will post 13.55 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CTO Markus Gloeckler sold 1,937 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently made changes to their positions in the company. Raymond James & Associates boosted its position in shares of First Solar by 160.6% during the first quarter. Raymond James & Associates now owns 26,796 shares of the solar cell manufacturer’s stock worth $2,244,000 after buying an additional 16,515 shares during the period. American Century Companies Inc. boosted its position in First Solar by 13.8% during the 1st quarter. American Century Companies Inc. now owns 8,472 shares of the solar cell manufacturer’s stock worth $710,000 after acquiring an additional 1,030 shares during the period. Cibc World Market Inc. grew its stake in shares of First Solar by 71.0% in the first quarter. Cibc World Market Inc. now owns 7,464 shares of the solar cell manufacturer’s stock worth $625,000 after purchasing an additional 3,100 shares in the last quarter. Blair William & Co. IL increased its holdings in shares of First Solar by 1.8% during the first quarter. Blair William & Co. IL now owns 50,128 shares of the solar cell manufacturer’s stock valued at $4,198,000 after purchasing an additional 890 shares during the period. Finally, Sei Investments Co. raised its stake in shares of First Solar by 11.6% during the first quarter. Sei Investments Co. now owns 25,804 shares of the solar cell manufacturer’s stock valued at $2,161,000 after purchasing an additional 2,691 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.