Susquehanna Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target increased by stock analysts at Susquehanna from $250.00 to $270.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price target would suggest a potential upside of 18.16% from the company’s previous close.

FSLR has been the subject of a number of other reports. Argus lifted their price objective on First Solar from $250.00 to $275.00 and gave the company a “buy” rating in a report on Wednesday, May 13th. The Goldman Sachs Group upped their target price on shares of First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Freedom Capital upgraded shares of First Solar from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 5th. Zacks Research raised shares of First Solar from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Finally, Barclays reduced their price target on shares of First Solar from $228.00 to $213.00 and set an “overweight” rating on the stock in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus target price of $254.31.

First Solar Trading Up 1.9%

Shares of FSLR opened at $228.50 on Friday. First Solar has a 1 year low of $159.85 and a 1 year high of $320.95. The company has a current ratio of 2.56, a quick ratio of 2.15 and a debt-to-equity ratio of 0.02. The stock has a 50 day simple moving average of $250.17 and a 200-day simple moving average of $231.00. The stock has a market cap of $24.55 billion, a PE ratio of 14.76, a PEG ratio of 0.50 and a beta of 1.73.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, beating the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter in the previous year, the firm earned $1.95 EPS. First Solar’s quarterly revenue was up 23.6% on a year-over-year basis. On average, sell-side analysts predict that First Solar will post 17.61 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, CEO Mark R. Widmar sold 9,926 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $233.21, for a total value of $2,314,842.46. Following the transaction, the chief executive officer owned 95,148 shares of the company’s stock, valued at approximately $22,189,465.08. The trade was a 9.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 498 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $215.63, for a total value of $107,383.74. Following the sale, the chief financial officer owned 30,712 shares in the company, valued at $6,622,428.56. The trade was a 1.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 32,466 shares of company stock valued at $8,014,105. Insiders own 0.39% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Aventura Private Wealth LLC acquired a new position in shares of First Solar during the fourth quarter worth approximately $25,000. Reflection Asset Management bought a new stake in shares of First Solar during the fourth quarter valued at approximately $26,000. Commonwealth Retirement Investments LLC acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $26,000. Larson Financial Group LLC increased its holdings in shares of First Solar by 117.0% in the fourth quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares in the last quarter. Finally, Elyxium Wealth LLC bought a new position in First Solar in the 4th quarter worth approximately $30,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

About First Solar

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.