First Solar (NASDAQ:FSLR) Price Target Increased to $262.00 by Analysts at JPMorgan Chase & Co.

First Solar (NASDAQ:FSLR) had its price target raised by JPMorgan Chase & Co. from $240.00 to $262.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has an overweight rating on the solar cell manufacturer’s stock.

Other research analysts have also issued reports about the company. Evercore ISI upgraded First Solar from an in-line rating to an outperform rating and set a $227.00 price objective for the company in a research report on Tuesday, April 23rd. Piper Sandler boosted their price objective on shares of First Solar from $195.00 to $219.00 and gave the company an overweight rating in a report on Tuesday, May 21st. Morgan Stanley increased their target price on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a research note on Thursday, May 2nd. DZ Bank initiated coverage on shares of First Solar in a research note on Wednesday, April 17th. They issued a buy rating and a $205.00 price target on the stock. Finally, Roth Mkm restated a buy rating and issued a $230.00 price objective on shares of First Solar in a report on Thursday, April 18th. Two research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, First Solar currently has a consensus rating of Moderate Buy and an average price target of $239.16.

First Solar Trading Up 10.8 %

Shares of FSLR stock opened at $276.74 on Thursday. 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 twelve month low of $129.21 and a twelve month high of $278.80. The company’s 50-day moving average price is $182.34 and its 200-day moving average price is $164.69. The stock has a market cap of $29.62 billion, a price-to-earnings ratio of 29.01, a PEG ratio of 0.37 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same period in the previous year, the firm earned $0.40 earnings per share. First Solar’s quarterly revenue was up 44.8% compared to the same quarter last year. As a group, equities analysts predict that First Solar will post 13.56 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other 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 transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Richard D. Chapman sold 7,264 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now directly owns 10,440 shares of the company’s stock, valued at $2,599,038. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction that occurred 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 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. In the last three months, insiders have sold 51,455 shares of company stock valued at $9,617,472. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Institutional investors have recently modified their holdings of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar in the 4th quarter valued at about $27,000. Estabrook Capital Management purchased a new position in First Solar during the 3rd quarter worth approximately $29,000. Baystate Wealth Management LLC purchased a new position in First Solar during the 4th quarter worth approximately $29,000. Finally, Headinvest LLC purchased a new stake in First Solar in the third quarter valued at approximately $30,000. 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.