Oppenheimer Boosts First Solar (NASDAQ:FSLR) Price Target to $271.00

First Solar (NASDAQ:FSLR) had its target price increased by Oppenheimer from $269.00 to $271.00 in a report issued on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other equities analysts have also commented on the stock. The Goldman Sachs Group raised their price objective on shares of First Solar from $265.00 to $268.00 and gave the stock a buy rating in a research note on Thursday. Mizuho increased 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. Evercore ISI upgraded First Solar from an in-line rating to an outperform rating and set a $227.00 target price on the stock in a report on Tuesday, April 23rd. Morgan Stanley raised their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and upped their price objective for the company from $187.00 to $250.00 in a research note 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.com, First Solar presently has a consensus rating of Moderate Buy and a consensus target price of $238.16.

First Solar Price Performance

NASDAQ:FSLR opened at $191.55 on Thursday. 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 firm has a market cap of $20.50 billion, a P/E ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37. The business’s 50-day moving average price is $166.57 and its 200 day moving average price is $158.31.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data 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. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. As a group, sell-side analysts predict 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, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Commonwealth Equity Services LLC boosted its position in First Solar by 15.4% during 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 purchasing an additional 4,327 shares during the last quarter. Chevy Chase Trust Holdings LLC increased its holdings in First Solar by 5.1% during the third 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 last quarter. Xponance Inc. raised its position in First Solar by 7.6% during the third quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock worth $2,403,000 after acquiring an additional 1,045 shares in the last quarter. Independent Advisor Alliance lifted 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 position in shares of First Solar by 78.4% in the 3rd quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock valued at $405,000 after acquiring an additional 1,102 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

First Solar Company Profile

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.