First Solar (NASDAQ:FSLR) Price Target Lowered to $286.00 at BMO Capital Markets

First Solar (NASDAQ:FSLR) had its target price cut by equities researchers at BMO Capital Markets from $311.00 to $286.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. BMO Capital Markets’ price objective points to a potential upside of 31.65% from the stock’s current price.

Several other equities analysts have also commented on the company. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $187.00 to $250.00 in a research report on Friday, April 19th. The Goldman Sachs Group raised their price objective on First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a research report on Tuesday, June 4th. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. DZ Bank lowered First Solar from a “buy” rating to a “hold” rating and set a $270.00 price objective for the company. in a research report on Wednesday, May 29th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Monday, July 8th. Five equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.17.

First Solar Price Performance

NASDAQ FSLR traded up $6.35 on Wednesday, reaching $217.24. 1,254,969 shares of the company’s stock traded hands, compared to its average volume of 2,510,101. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar has a 12 month low of $129.21 and a 12 month high of $306.77. The stock has a market cap of $23.25 billion, a PE ratio of 22.77, a P/E/G ratio of 0.29 and a beta of 1.44. The stock has a 50-day simple moving average of $247.69 and a 200 day simple moving average of $193.88.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter last year, the firm posted $1.85 earnings per share. The firm’s revenue was up 24.6% on a year-over-year basis. As a group, research analysts predict that First Solar will post 13.58 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, Director R Craig Kennedy sold 2,000 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $196.73, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 approximately $8,419,797.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director R Craig Kennedy sold 2,000 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the sale, the director now owns 13,908 shares in the company, valued at $2,736,120.84. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,153 shares of company stock valued at $12,540,428. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently bought and sold shares of the stock. Cambridge Trust Co. grew its stake in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after acquiring an additional 50 shares in the last quarter. Great Diamond Partners LLC grew its stake in shares of First Solar by 3.8% in the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after buying an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in shares of First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after purchasing an additional 62 shares during the period. Family Legacy Inc. boosted its stake in shares of First Solar by 1.4% during the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after purchasing an additional 69 shares during the period. Finally, Harbor Investment Advisory LLC boosted its stake in shares of First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after purchasing an additional 72 shares during the period. 92.08% of the stock is owned by hedge funds and other 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.