UBS Group Raises First Solar (NASDAQ:FSLR) Price Target to $252.00

First Solar (NASDAQ:FSLR) had its price target boosted by UBS Group from $250.00 to $252.00 in a research report report published on Thursday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Several other equities analysts also recently weighed in on the company. Evercore ISI raised First Solar from an in-line rating to an outperform rating and set a $227.00 price target for the company in a research report on Tuesday, April 23rd. Oppenheimer upped their target price on shares of First Solar from $269.00 to $271.00 and gave the company an outperform rating in a report on Thursday. Jefferies Financial Group boosted their price objective on shares of First Solar from $209.50 to $211.00 and gave the company a buy rating in a research report on Thursday. Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and lifted their target price for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Finally, Bank of America increased their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $238.16.

First Solar Trading Up 6.1 %

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 stock has a fifty day simple moving average of $166.57 and a 200-day simple moving average of $158.31. The company has a market capitalization of $20.50 billion, a PE ratio of 20.08, a price-to-earnings-growth 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 earnings per share (EPS) for the quarter, topping 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 company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities research analysts expect that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred 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 transaction, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other 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 value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 679 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at $2,315,680. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 over the last 90 days. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Several institutional investors have recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the 4th quarter valued at about $27,000. Baystate Wealth Management LLC acquired a new position in First Solar in the fourth quarter worth approximately $29,000. Estabrook Capital Management acquired a new stake in First Solar in the third quarter valued at approximately $29,000. Finally, Riverview Trust Co acquired a new position in shares of First Solar during the 1st quarter valued at about $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.