First Solar (NASDAQ:FSLR) Price Target Raised to $248.00

First Solar (NASDAQ:FSLR) had its price target upped by research analysts at Morgan Stanley from $245.00 to $248.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s price objective indicates a potential upside of 39.66% from the stock’s current price.

Several other brokerages also recently weighed in on FSLR. Mizuho upped their target price on shares of First Solar from $196.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday. Bank of America upped their price objective on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Roth Mkm reissued a “buy” rating and set a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $195.00 price objective on shares of First Solar in a report on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $236.24.

First Solar Stock Up 0.7 %

FSLR stock opened at $177.58 on Thursday. The business’s 50-day moving average price is $164.33 and its 200-day moving average price is $157.70. The stock has a market cap of $19.01 billion, a P/E ratio of 22.94, a PEG ratio of 0.30 and a beta of 1.37. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00.

First Solar (NASDAQ:FSLR) last released its earnings results 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 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 firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.07) EPS. On average, equities research analysts forecast that First Solar will post 13.55 EPS 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 dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the business’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 completion of 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 document filed with the SEC, which is available through this hyperlink. Also, insider Kuntal Kumar Verma sold 787 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $125,920.00. Following the completion of the sale, the insider now owns 4,920 shares in the company, valued at approximately $787,200. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock worth $4,269,540 over the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar in the fourth quarter valued at about $27,000. Estabrook Capital Management bought a new stake in shares of First Solar in the third quarter valued at about $29,000. Baystate Wealth Management LLC purchased a new stake in First Solar in the fourth quarter worth about $29,000. Finally, Headinvest LLC purchased a new position in First Solar during the 3rd quarter valued at about $30,000. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.