Oppenheimer Increases First Solar (NASDAQ:FSLR) Price Target to $271.00

First Solar (NASDAQ:FSLR) had its price target raised by Oppenheimer from $269.00 to $271.00 in a report published on Thursday, Benzinga reports. They currently have an outperform rating on the solar cell manufacturer’s stock.

Several other research firms also recently commented on FSLR. Roth Mkm reissued a buy rating and set a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Mizuho boosted their price target on shares of First Solar from $196.00 to $209.00 and gave the stock a buy rating in a report on Thursday. Evercore ISI upgraded shares of First Solar from an in-line rating to an outperform rating and set a $227.00 price target on the stock in a report on Tuesday, April 23rd. Morgan Stanley boosted their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a report on Thursday. Finally, Susquehanna restated a positive rating and set a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, First Solar presently has a consensus rating of Moderate Buy and a consensus price target of $238.16.

First Solar Stock Up 6.1 %

Shares of NASDAQ:FSLR traded up $11.04 during midday trading on Thursday, hitting $191.55. 3,008,268 shares of the company’s stock were exchanged, compared to its average volume of 2,074,836. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 2.92. The stock has a 50 day moving average price of $166.57 and a 200-day moving average price of $158.28. The company has a market cap of $20.50 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00.

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

Insider Buying and Selling

In related news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction on Monday, March 18th. The shares were 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 in the company, valued at approximately $766,917.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other First Solar news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was 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 in the company, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 in the last 90 days. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of First Solar by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock valued at $2,093,515,000 after purchasing an additional 111,786 shares in the last quarter. Schroder Investment Management Group boosted its stake in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of First Solar by 10.2% during the 3rd quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock valued at $369,024,000 after purchasing an additional 211,755 shares in the last quarter. Norges Bank bought a new stake in First Solar during the fourth quarter worth about $298,123,000. Finally, Clean Energy Transition LLP raised its holdings in 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 worth $191,750,000 after buying an additional 1,073,500 shares during the last quarter. 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.