Mizuho Cuts First Solar (NASDAQ:FSLR) Price Target to $257.00

First Solar (NASDAQ:FSLR) had its target price reduced by investment analysts at Mizuho from $274.00 to $257.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the solar cell manufacturer’s stock. Mizuho’s target price points to a potential upside of 25.40% from the company’s previous close.

A number of other equities research analysts have also issued reports on FSLR. The Goldman Sachs Group lowered their target price on First Solar from $311.00 to $279.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI dropped their price objective on shares of First Solar from $281.00 to $278.00 and set an “outperform” rating on the stock in a research note on Wednesday. Janney Montgomery Scott upgraded shares of First Solar from a “neutral” rating to a “buy” rating and set a $260.00 target price for the company in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of First Solar from $315.00 to $280.00 and set an “outperform” rating on the stock in a research note on Wednesday. Finally, Wells Fargo & Company decreased their price objective on shares of First Solar from $250.00 to $240.00 and set an “overweight” rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Trading Up 5.4 %

NASDAQ FSLR opened at $204.94 on Thursday. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. First Solar has a one year low of $129.21 and a one year high of $306.77. The company’s 50 day moving average price is $221.68 and its 200 day moving average price is $223.93.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. The business’s revenue was up 10.7% compared to the same quarter last year. On average, sell-side analysts predict that First Solar will post 13.18 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 10,885 shares of company stock valued at $2,405,757 in the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in shares of First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock valued at $89,000 after buying an additional 45 shares during the last quarter. Davis Investment Partners LLC increased its position in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after acquiring an additional 46 shares during the period. Oregon Public Employees Retirement Fund raised its stake in First Solar by 0.5% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after acquiring an additional 49 shares in the last quarter. Cambridge Trust Co. boosted its position in First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the period. Finally, Gilman Hill Asset Management LLC grew its stake in shares of First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock worth $455,000 after purchasing an additional 50 shares in the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

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.