Mizuho Boosts First Solar (NASDAQ:FSLR) Price Target to $209.00

First Solar (NASDAQ:FSLR) had its price target raised by stock analysts at Mizuho from $196.00 to $209.00 in a report released on Thursday, Benzinga reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. Mizuho’s price objective suggests a potential upside of 17.69% from the stock’s current price.

FSLR has been the topic of several other research reports. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price on the stock. Oppenheimer reissued an “outperform” rating and issued a $269.00 price target on shares of First Solar in a report on Wednesday, April 17th. Barclays upped their price objective on shares of First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. DZ Bank initiated coverage on First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 target price on the stock. Finally, Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $236.24.

First Solar Trading Up 0.7 %

NASDAQ FSLR opened at $177.58 on Thursday. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The stock’s 50-day simple moving average is $164.33 and its two-hundred day simple moving average is $157.70. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The company has a market capitalization of $19.01 billion, a price-to-earnings ratio of 22.94, a PEG ratio of 0.30 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.07) EPS. Research analysts forecast that First Solar will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 over the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new stake in First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar in the fourth quarter worth $27,000. Estabrook Capital Management bought a new stake in shares of First Solar during the 3rd quarter valued at $29,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar during the 4th quarter valued at $29,000. Finally, Headinvest LLC bought a new position in First Solar in the 3rd quarter worth $30,000. Institutional investors own 92.08% of the company’s stock.

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.