First Solar (NASDAQ:FSLR) Price Target Raised to $227.00 at Barclays

First Solar (NASDAQ:FSLR) had its target price boosted by Barclays from $224.00 to $227.00 in a research report released on Friday, Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

Several other analysts have also recently commented on the stock. Bank of America upped their target price 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. Royal Bank of Canada reiterated an outperform rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Mizuho upped their target price on shares of First Solar from $188.00 to $196.00 and gave the company a buy rating in a research report on Wednesday, January 3rd. Susquehanna reiterated a positive rating and set a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Finally, Roth Mkm restated a buy rating and issued a $230.00 price objective on shares of First Solar in a research report on Thursday. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, First Solar has a consensus rating of Moderate Buy and a consensus price target of $229.68.

First Solar Stock Performance

FSLR stock opened at $175.04 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The company has a 50 day moving average price of $161.34 and a 200 day moving average price of $156.18. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $232.00. The stock has a market capitalization of $18.74 billion, a PE ratio of 22.61, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 firm had revenue of $1.16 billion during 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%. First Solar’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.07) EPS. Analysts forecast that First Solar will post 13.55 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated 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 completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, CTO Markus Gloeckler sold 1,937 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the completion of the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at approximately $2,193,800. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated 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 of the company’s stock, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock worth $4,269,540 in the last three months. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar in the 1st quarter valued at about $25,000. First Pacific Financial acquired a new stake in First Solar in the 3rd quarter valued at about $27,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar in the 4th quarter valued at about $27,000. Estabrook Capital Management acquired a new stake in First Solar in the 3rd quarter valued at about $29,000. Finally, Baystate Wealth Management LLC acquired a new stake in First Solar in the 4th quarter valued at about $29,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.