First Solar (NASDAQ:FSLR) PT Raised to $268.00

First Solar (NASDAQ:FSLR) had its target price hoisted by The Goldman Sachs Group from $265.00 to $268.00 in a research note published on Thursday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other reports. Mizuho upped their target price on shares of First Solar from $196.00 to $209.00 and gave the company a buy rating in a report on Thursday. Evercore ISI raised shares of First Solar from an in-line rating to an outperform rating and set a $227.00 target price for the company in a report on Tuesday, April 23rd. Susquehanna reaffirmed a positive rating and set a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 target price on shares of First Solar in a report on Wednesday, February 28th. Finally, Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and upped their price target for the stock from $187.00 to $250.00 in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $238.16.

First Solar Stock Up 6.1 %

FSLR opened at $191.55 on Thursday. 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 firm has a 50 day moving average price of $166.57 and a 200-day moving average price of $158.28. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS 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 analysts’ expectations of $718.19 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. Equities research analysts forecast that First Solar will post 13.55 earnings per share for the current year.

Insider Activity at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, insider Georges Antoun sold 2,400 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The shares were 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 directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock valued at $4,269,540 over the last 90 days. 0.58% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently made changes to their positions in FSLR. Commonwealth Equity Services LLC raised 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 acquiring an additional 4,327 shares during the period. Chevy Chase Trust Holdings LLC increased its stake in First Solar by 5.1% in 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 during the period. Xponance Inc. increased its stake in First Solar by 7.6% in the 3rd quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock worth $2,403,000 after buying an additional 1,045 shares during the period. Independent Advisor Alliance increased its stake in First Solar by 46.7% in the 3rd quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock worth $272,000 after buying an additional 537 shares during the period. Finally, Brown Advisory Inc. increased its stake in First Solar by 78.4% in the 3rd quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock worth $405,000 after buying an additional 1,102 shares during the period. Hedge funds and other institutional investors 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.