First Solar (NASDAQ:FSLR) PT Raised to $270.00 at UBS Group

First Solar (NASDAQ:FSLR) had its price target boosted by UBS Group from $252.00 to $270.00 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Other equities analysts also recently issued research reports about the stock. Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Roth Mkm reissued a buy rating and set a $230.00 target price on shares of First Solar in a report on Thursday, April 18th. JPMorgan Chase & Co. upped their price target on shares of First Solar from $237.00 to $240.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Jefferies Financial Group lifted their price objective on First Solar from $209.50 to $211.00 and gave the company a buy rating in a research note on Thursday, May 2nd. Finally, Susquehanna reaffirmed a positive rating and set a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Two 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.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $239.16.

First Solar Trading Down 0.8 %

NASDAQ FSLR opened at $249.81 on Tuesday. The stock has a market cap of $26.74 billion, a P/E ratio of 26.19, a P/E/G ratio of 0.28 and a beta of 1.37. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar has a 12-month low of $129.21 and a 12-month high of $253.99. The company has a fifty day simple moving average of $179.75 and a two-hundred day simple moving average of $163.46.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. During the same quarter last year, the business posted $0.40 EPS. On average, analysts forecast that First Solar will post 13.56 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was 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 of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Chapman sold 7,264 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $248.95, for a total value of $1,808,372.80. Following the sale, the director now directly owns 10,440 shares of the company’s stock, valued at $2,599,038. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,455 shares of company stock worth $9,617,472. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Swedbank AB acquired a new stake in shares of First Solar in the first quarter valued at $21,815,000. Wahed Invest LLC increased its stake in First Solar by 16.1% during the first quarter. Wahed Invest LLC now owns 2,103 shares of the solar cell manufacturer’s stock worth $355,000 after purchasing an additional 292 shares during the period. iA Global Asset Management Inc. lifted its position in shares of First Solar by 175.6% during the first quarter. iA Global Asset Management Inc. now owns 5,685 shares of the solar cell manufacturer’s stock worth $960,000 after purchasing an additional 3,622 shares in the last quarter. Garner Asset Management Corp boosted its stake in shares of First Solar by 3.3% in the first quarter. Garner Asset Management Corp now owns 4,740 shares of the solar cell manufacturer’s stock valued at $800,000 after purchasing an additional 150 shares during the period. Finally, California State Teachers Retirement System grew its holdings in shares of First Solar by 1.7% in the first quarter. California State Teachers Retirement System now owns 167,897 shares of the solar cell manufacturer’s stock valued at $28,341,000 after purchasing an additional 2,842 shares in 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.