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

First Solar (NASDAQ:FSLR) had its price target raised by analysts at Barclays from $224.00 to $227.00 in a report released on Friday, Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s target price would suggest a potential upside of 28.85% from the stock’s previous close.

Several other research firms also recently weighed in on FSLR. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Janney Montgomery Scott assumed coverage on shares of First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 price target for the company. Roth Mkm restated a “buy” rating and set a $230.00 price target on shares of First Solar in a report on Thursday. Oppenheimer restated an “outperform” rating and set a $269.00 price target on shares of First Solar in a report on Wednesday. Finally, DZ Bank assumed coverage on shares of First Solar in a report on Wednesday. They set a “buy” rating and a $205.00 price target for the company. Three analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, First Solar currently has a consensus rating of “Moderate Buy” and an average price target of $229.68.

First Solar Price Performance

Shares of FSLR traded up $1.88 during mid-day trading on Friday, hitting $176.17. The company’s stock had a trading volume of 674,159 shares, compared to its average volume of 2,057,846. The firm has a 50-day moving average price of $160.86 and a 200 day moving average price of $156.05. The stock has a market capitalization of $18.86 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00.

First Solar (NASDAQ:FSLR) last released its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.19 by $0.06. The business had revenue of $1.16 billion for 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 firm’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.07) earnings per share. On average, research analysts predict that First Solar will post 13.55 EPS for the current fiscal year.

Insider Transactions at First Solar

In related news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction 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 transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, 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 transaction, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of the business’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 transaction, 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. Over the last three months, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of First Solar by 0.9% in the 4th quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock worth $2,093,515,000 after purchasing an additional 111,786 shares during the last quarter. State Street Corp grew its holdings in shares of First Solar by 4.4% in the 1st quarter. State Street Corp now owns 4,266,552 shares of the solar cell manufacturer’s stock worth $927,972,000 after purchasing an additional 179,035 shares during the last quarter. Schroder Investment Management Group lifted its position in 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 worth $422,861,000 after buying an additional 351,540 shares in the last quarter. Wellington Management Group LLP lifted its position in 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 worth $369,024,000 after buying an additional 211,755 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in First Solar by 2.6% during the 1st quarter. Geode Capital Management LLC now owns 2,236,723 shares of the solar cell manufacturer’s stock worth $485,528,000 after buying an additional 56,383 shares in 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.