First Solar (NASDAQ:FSLR) PT Raised to $227.00

First Solar (NASDAQ:FSLR) had its target price lifted by Barclays from $224.00 to $227.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s price objective indicates a potential upside of 28.85% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $187.00 to $250.00 in a research report on Friday. Janney Montgomery Scott started coverage on shares of First Solar in a research note on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Roth Mkm reissued a “buy” rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Finally, Bank of America raised their target price on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $229.68.

First Solar Stock Up 1.1 %

NASDAQ FSLR traded up $1.88 on Friday, hitting $176.17. The stock had a trading volume of 674,159 shares, compared to its average volume of 2,057,846. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00. The business’s fifty day moving average price is $160.86 and its 200 day moving average price is $156.05. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The stock has a market cap of $18.86 billion, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) earnings per share. Equities research analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Kuntal Kumar Verma sold 787 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $125,920.00. Following the completion of the sale, the insider now directly owns 4,920 shares of the company’s stock, valued at $787,200. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The disclosure for this sale can be found here. In the last three months, insiders sold 26,620 shares of company stock valued at $4,269,540. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently bought and sold shares of FSLR. Norges Bank purchased a new stake in shares of First Solar in the fourth quarter valued at about $298,123,000. Voya Investment Management LLC raised its holdings in shares of First Solar by 1,371.4% in the fourth quarter. Voya Investment Management LLC now owns 1,818,288 shares of the solar cell manufacturer’s stock valued at $313,255,000 after buying an additional 1,694,711 shares during the last quarter. Clean Energy Transition LLP raised its holdings in shares of First Solar by 948.8% in the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after buying an additional 1,073,500 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of First Solar by 197.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,336,038 shares of the solar cell manufacturer’s stock worth $111,880,000 after acquiring an additional 887,443 shares during the period. Finally, Samlyn Capital LLC acquired a new position in shares of First Solar during the first quarter worth about $121,554,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

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.