First Solar (NASDAQ:FSLR) PT Raised to $282.00 at JPMorgan Chase & Co.

First Solar (NASDAQ:FSLR) had its price target upped by JPMorgan Chase & Co. from $262.00 to $282.00 in a report released on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Deutsche Bank Aktiengesellschaft lifted their target price on shares of First Solar from $215.00 to $280.00 and gave the company a buy rating in a research note on Friday, June 28th. The Goldman Sachs Group boosted their price objective on First Solar from $268.00 to $302.00 and gave the stock a buy rating in a research note on Tuesday, June 4th. BMO Capital Markets raised their target price on First Solar from $224.00 to $311.00 and gave the company an outperform rating in a research note on Monday, June 10th. DZ Bank downgraded shares of First Solar from a buy rating to a hold rating and set a $270.00 price target on the stock. in a research report on Wednesday, May 29th. Finally, Piper Sandler upped their target price on shares of First Solar from $195.00 to $219.00 and gave the stock an overweight rating in a research report on Tuesday, May 21st. Five research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $272.72.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $216.43 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The business’s fifty day moving average price is $244.29 and its two-hundred day moving average price is $190.84. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 22.69, a price-to-earnings-growth ratio of 0.27 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $718.19 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, analysts predict that First Solar will post 13.64 EPS for the current fiscal year.

Insider Activity

In other First Solar news, Director R Craig Kennedy sold 2,000 shares of First Solar stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $196.73, for a total transaction of $393,460.00. Following the transaction, the director now directly owns 13,908 shares in the company, valued at $2,736,120.84. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on 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 sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director R Craig Kennedy sold 2,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total transaction of $393,460.00. Following the completion of the transaction, the director now directly owns 13,908 shares of the company’s stock, valued at $2,736,120.84. The disclosure for this sale can be found here. Insiders sold 51,153 shares of company stock valued at $12,540,428 in the last quarter. Company insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors have recently modified their holdings of the company. Gilman Hill Asset Management LLC bought a new stake in First Solar in the 4th quarter valued at approximately $319,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in First Solar in the fourth quarter valued at $35,336,000. Bouvel Investment Partners LLC increased its stake in First Solar by 4.1% in the 4th quarter. Bouvel Investment Partners LLC now owns 16,520 shares of the solar cell manufacturer’s stock valued at $2,846,000 after buying an additional 649 shares during the last quarter. CX Institutional bought a new stake in First Solar during the 4th quarter worth about $244,000. Finally, Pacer Advisors Inc. boosted its stake in shares of First Solar by 68.9% during the 4th quarter. Pacer Advisors Inc. now owns 10,711 shares of the solar cell manufacturer’s stock worth $1,845,000 after buying an additional 4,369 shares during the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.