First Solar (NASDAQ:FSLR) Price Target Raised to $252.00 at UBS Group

First Solar (NASDAQ:FSLR) had its price target boosted by stock analysts at UBS Group from $250.00 to $252.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s price objective indicates a potential upside of 45.60% from the stock’s previous close.

FSLR has been the topic of a number of other reports. Jefferies Financial Group lifted their price target on shares of First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a research report on Thursday. Janney Montgomery Scott initiated coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 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 company a “buy” rating in a research report on Wednesday, April 10th. Morgan Stanley lifted their price target on shares of First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, 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 research note on Tuesday, April 23rd. Three 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, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.40.

First Solar Trading Down 2.5 %

Shares of NASDAQ FSLR traded down $4.50 during midday trading on Thursday, reaching $173.08. 1,151,153 shares of the stock were exchanged, compared to its average volume of 2,049,856. The business has a 50-day simple moving average of $164.89 and a two-hundred day simple moving average of $157.84. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 22.36, a P/E/G ratio of 0.30 and a beta of 1.37. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. 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 (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion for 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 business’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. As a group, equities research analysts expect that First Solar will post 13.55 EPS for the current year.

Insider Transactions at First Solar

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

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Solar by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock valued at $94,419,000 after buying an additional 20,946 shares during the period. Assenagon Asset Management S.A. raised its stake in First Solar by 504.1% in the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after buying an additional 333,496 shares in the last quarter. Sora Investors LLC raised its holdings in First Solar by 63.6% during the third quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock worth $14,543,000 after purchasing an additional 35,000 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Solar by 2.4% in the third 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 in the last quarter. Finally, Bull Oak Capital LLC grew its stake in First Solar by 304,592.2% during the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after buying an additional 155,342 shares during the last quarter. Institutional investors and hedge funds 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.