First Solar (NASDAQ:FSLR) Price Target Increased to $271.00 by Analysts at Oppenheimer

First Solar (NASDAQ:FSLR) had its price target hoisted by equities research analysts at Oppenheimer from $269.00 to $271.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Oppenheimer’s target price points to a potential upside of 52.61% from the company’s previous close.

Several other brokerages have also recently weighed in on FSLR. DZ Bank began coverage on shares of First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective on the stock. Bank of America boosted their price objective 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. Janney Montgomery Scott began coverage on shares of First Solar in a research note on Friday, April 12th. They issued a “buy” rating and a $236.00 price objective on the stock. Barclays boosted their price objective on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday, April 19th. Finally, Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $187.00 to $250.00 in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.32.

First Solar Trading Up 0.7 %

Shares of NASDAQ:FSLR opened at $177.58 on Thursday. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. The stock has a market cap of $19.01 billion, a PE ratio of 22.94, a P/E/G ratio of 0.30 and a beta of 1.37. The business has a 50 day moving average of $164.33 and a 200-day moving average of $157.70. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07.

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

Insider Buying and Selling

In related news, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now owns 12,536 shares in the company, valued at approximately $2,193,800. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other First Solar news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CTO Markus Gloeckler sold 1,937 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 in the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the 4th quarter valued at approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the 4th quarter valued at approximately $29,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter valued at approximately $29,000. Finally, Riverview Trust Co bought a new position in shares of First Solar during the 1st quarter valued at approximately $32,000. Hedge funds and other 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.