First Solar (NASDAQ:FSLR) Price Target Raised to $227.00

First Solar (NASDAQ:FSLR) had its target price lifted by Barclays from $224.00 to $227.00 in a research report released on Friday morning, Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other reports. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the company a buy rating in a research note on Wednesday, April 10th. 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. Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and lifted their price target for the stock from $187.00 to $250.00 in a research note on Friday. DZ Bank started coverage on shares of First Solar in a research note on Wednesday, April 17th. They set a buy rating and a $205.00 price objective on the stock. Finally, Mizuho upped their target price on shares of First Solar from $188.00 to $196.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, First Solar presently has a consensus rating of Moderate Buy and an average price target of $229.68.

First Solar Stock Performance

First Solar stock opened at $176.28 on Friday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The company has a market capitalization of $18.87 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.30 and a beta of 1.41. The stock has a fifty day moving average of $161.72 and a two-hundred day moving average of $156.46. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted ($0.07) EPS. On average, analysts anticipate that First Solar will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, 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 value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of First Solar in the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the 4th quarter valued at about $27,000. Baystate Wealth Management LLC acquired a new position in shares of First Solar in the 4th quarter worth approximately $29,000. First Pacific Financial bought a new stake in shares of First Solar in the 3rd quarter worth approximately $27,000. Finally, Estabrook Capital Management bought a new position in shares of First Solar in the third quarter valued at $29,000. 92.08% of the stock is owned by institutional investors.

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.