First Solar (NASDAQ:FSLR) PT Raised to $240.00 at JPMorgan Chase & Co.

First Solar (NASDAQ:FSLR) had its target price boosted by JPMorgan Chase & Co. from $237.00 to $240.00 in a report issued on Thursday, Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

A number of other research analysts also recently commented on FSLR. Barclays increased their price target on First Solar from $224.00 to $227.00 and gave the company an overweight rating in a report on Friday, April 19th. Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and upped their price target for the company from $187.00 to $250.00 in a report on Friday, April 19th. Janney Montgomery Scott started coverage on First Solar in a report on Friday, April 12th. They issued a buy rating and a $236.00 price target for the company. Mizuho raised their price objective on First Solar from $196.00 to $209.00 and gave the stock a buy rating in a research note on Thursday. Finally, Jefferies Financial Group increased their target price on shares of First Solar from $209.50 to $211.00 and gave the stock a buy rating in a report on Thursday. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus price target of $238.16.

First Solar Stock Up 6.1 %

Shares of NASDAQ:FSLR opened at $191.55 on Thursday. The company has a 50 day moving average of $166.57 and a two-hundred day moving average of $158.31. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $20.50 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same period last year, the business earned $0.40 EPS. The business’s revenue was up 44.8% on a year-over-year basis. As a group, analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred 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 transaction, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $2,467,524.16. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the company’s 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 transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently bought and sold shares of FSLR. Commonwealth Equity Services LLC increased its stake in shares of First Solar by 15.4% in the third quarter. Commonwealth Equity Services LLC now owns 32,365 shares of the solar cell manufacturer’s stock valued at $5,230,000 after buying an additional 4,327 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in First Solar by 5.1% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 60,051 shares of the solar cell manufacturer’s stock worth $9,704,000 after buying an additional 2,898 shares in the last quarter. Xponance Inc. lifted its holdings in First Solar by 7.6% in the third quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock valued at $2,403,000 after buying an additional 1,045 shares during the period. Independent Advisor Alliance boosted its stake in First Solar by 46.7% in the third quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock valued at $272,000 after acquiring an additional 537 shares during the last quarter. Finally, Brown Advisory Inc. grew its holdings in First Solar by 78.4% during the 3rd quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock worth $405,000 after acquiring an additional 1,102 shares during the period. 92.08% of the stock is currently owned by institutional investors.

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.