First Solar (NASDAQ:FSLR) Price Target Raised to $344.00

First Solar (NASDAQ:FSLRFree Report) had its price objective raised by Robert W. Baird from $246.00 to $344.00 in a research report report published on Tuesday, Benzinga reports. The brokerage currently has an outperform rating on the solar cell manufacturer’s stock.

Several other research firms have also commented on FSLR. UBS Group increased their price objective on shares of First Solar from $270.00 to $350.00 and gave the company a buy rating in a research report on Wednesday, May 29th. The Goldman Sachs Group increased their price target on First Solar from $268.00 to $302.00 and gave the company a buy rating in a report on Tuesday, June 4th. Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and increased their target price for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Mizuho reiterated a neutral rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a report on Thursday, May 30th. Finally, Guggenheim reduced their price target on First Solar from $359.00 to $356.00 and set a buy rating on the stock in a report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, First Solar has a consensus rating of Moderate Buy and an average price target of $265.72.

Read Our Latest Research Report on First Solar

First Solar Trading Down 3.0 %

First Solar stock opened at $291.56 on Tuesday. First Solar has a 12-month low of $129.21 and a 12-month high of $306.77. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 30.56, a P/E/G ratio of 0.37 and a beta of 1.48. The firm has a 50 day moving average of $213.11 and a 200 day moving average of $176.18. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly 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. The business had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. First Solar’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. As a group, research analysts predict that First Solar will post 13.55 earnings per share for the current year.

Insider Activity at First Solar

In other news, CFO Alexander R. Bradley sold 16,051 shares of the business’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Michael T. Sweeney sold 4,000 shares of the business’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $273.50, for a total value of $1,094,000.00. Following the completion of the transaction, the director now directly owns 16,692 shares in the company, valued at approximately $4,565,262. The disclosure for this sale can be found here. Insiders have sold 56,519 shares of company stock valued at $13,324,756 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors have recently added to or reduced their stakes in FSLR. Cambridge Trust Co. lifted its stake in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares in the last quarter. Great Diamond Partners LLC boosted its position in First Solar by 3.8% during the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares during the period. Family Legacy Inc. grew its position in First Solar by 1.4% in the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after acquiring an additional 69 shares in the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of First Solar by 36.0% in the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after acquiring an additional 72 shares in the last quarter. Finally, Atticus Wealth Management LLC raised its holdings in First Solar by 15.6% in the first quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock valued at $90,000 after acquiring an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

(Get Free Report)

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.

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