First Solar (NASDAQ:FSLR) Given New $211.00 Price Target at Jefferies Financial Group

First Solar (NASDAQ:FSLR) had its price target upped by research analysts at Jefferies Financial Group from $209.50 to $211.00 in a report released on Thursday, Benzinga reports. The firm presently has a “buy” rating on the solar cell manufacturer’s stock. Jefferies Financial Group’s price target would indicate a potential upside of 18.82% from the stock’s current price.

A number of other brokerages have also recently weighed in on FSLR. Oppenheimer lifted their price target on shares of First Solar from $269.00 to $271.00 and gave the stock an “outperform” rating in a research report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a research report on Wednesday, February 28th. Roth Mkm reaffirmed a “buy” rating and issued a $230.00 price objective on shares of First Solar in a research report on Thursday, April 18th. Susquehanna reaffirmed a “positive” rating and issued a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Finally, Janney Montgomery Scott assumed coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective on the stock. 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, First Solar presently has a consensus rating of “Moderate Buy” and an average target price of $236.32.

First Solar Price Performance

FSLR opened at $177.58 on Thursday. The company has a fifty day moving average price of $164.33 and a two-hundred day moving average price of $157.70. 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 has a 52 week low of $129.21 and a 52 week high of $232.00. The firm has a market capitalization of $19.01 billion, a PE ratio of 22.94, a P/E/G ratio of 0.30 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its earnings results 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. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the business earned ($0.07) EPS. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. As a group, analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,620 shares of company stock valued at $4,269,540. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the 4th quarter valued at approximately $27,000. Baystate Wealth Management LLC bought a new position in First Solar in the 4th quarter valued at approximately $29,000. Estabrook Capital Management bought a new position in First Solar in the 3rd quarter valued at approximately $29,000. Finally, Riverview Trust Co bought a new position in First Solar in the 1st quarter valued at approximately $32,000. 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.