Brokerages Set First Solar, Inc. (NASDAQ:FSLR) Target Price at $227.96

First Solar, Inc. (NASDAQ:FSLR) has been given an average recommendation of “Moderate Buy” by the twenty-three ratings firms that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and twenty have issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $227.04.

FSLR has been the topic of several recent analyst reports. DZ Bank began coverage on First Solar in a research note on Wednesday. They set a “buy” rating and a $205.00 price objective on the stock. Oppenheimer reaffirmed an “outperform” rating and set a $269.00 price target on shares of First Solar in a research report on Wednesday. Wells Fargo & Company downgraded shares of First Solar from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $215.00 to $187.00 in a research report on Monday, January 8th. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th.

First Solar Stock Performance

Shares of FSLR opened at $178.01 on Friday. The stock has a market capitalization of $19.05 billion, a price-to-earnings ratio of 23.00, a PEG ratio of 0.30 and a beta of 1.41. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. The firm has a fifty day simple moving average of $160.24 and a 200 day simple moving average of $155.92. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion during 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 company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. Research analysts forecast that First Solar will post 13.55 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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 in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Kuntal Kumar Verma sold 787 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $125,920.00. Following the sale, the insider now owns 4,920 shares in the company, valued at approximately $787,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in the stock. First Pacific Financial bought a new position in First Solar in the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management bought a new stake in First Solar during the 3rd quarter worth $29,000. Baystate Wealth Management LLC acquired a new position in First Solar in the 4th quarter worth about $29,000. Finally, Headinvest LLC acquired a new stake in shares of First Solar during the third quarter valued at about $30,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.