First Solar (NASDAQ:FSLR) PT Raised to $252.00

First Solar (NASDAQ:FSLR) had its target price upped by equities researchers at UBS Group from $250.00 to $252.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s target price would suggest a potential upside of 31.56% from the company’s current price.

FSLR has been the topic of a number of other reports. Roth Mkm restated a “buy” rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. DZ Bank began coverage on First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 price objective on the stock. Janney Montgomery Scott initiated coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. Barclays increased their price target on First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research report on Friday, April 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and a consensus target price of $238.16.

First Solar Trading Up 6.1 %

FSLR traded up $11.04 during trading hours on Thursday, reaching $191.55. 3,008,268 shares of the company’s stock traded hands, compared to its average volume of 2,074,836. The firm has a 50-day moving average price of $166.57 and a 200 day moving average price of $158.28. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.08, a PEG ratio of 0.31 and a beta of 1.37. The company has a quick ratio of 2.92, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same period last year, the company earned $0.40 earnings per share. As a group, sell-side analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the transaction, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of First Solar by 4.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock worth $94,419,000 after purchasing an additional 20,946 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in First Solar by 504.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares during the period. Sora Investors LLC increased its holdings in First Solar by 63.6% in the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after buying an additional 35,000 shares during the period. Vanguard Group Inc. lifted its stake in First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after acquiring an additional 279,424 shares during the period. Finally, Bull Oak Capital LLC boosted its holdings in shares of First Solar by 304,592.2% in the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after acquiring an additional 155,342 shares during the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.