First Solar (NASDAQ:FSLR) PT Raised to $135.00

First Solar (NASDAQ:FSLRGet Rating) had its price objective lifted by Roth Capital from $85.00 to $135.00 in a report released on Friday, The Fly reports.

A number of other analysts also recently issued reports on FSLR. Credit Suisse Group decreased their target price on First Solar to $77.00 in a research report on Monday, July 25th. Piper Sandler raised First Solar from a neutral rating to an overweight rating and boosted their target price for the company from $80.00 to $90.00 in a research note on Thursday, May 12th. Bank of America boosted their price target on First Solar from $62.00 to $63.00 and gave the company an underperform rating in a report on Monday, July 18th. JPMorgan Chase & Co. increased their price target on shares of First Solar from $73.00 to $83.00 and gave the stock a maintains rating in a research note on Friday. Finally, StockNews.com initiated coverage on shares of First Solar in a research report on Thursday, March 31st. They set a sell rating on the stock. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus price target of $94.87.

First Solar Stock Up 0.3 %

FSLR opened at $99.49 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.20 and a current ratio of 4.21. First Solar has a fifty-two week low of $59.60 and a fifty-two week high of $123.13. The company has a market capitalization of $10.60 billion, a P/E ratio of 56.53, a P/E/G ratio of 71.94 and a beta of 1.49. The stock has a fifty day moving average of $70.20 and a 200-day moving average of $73.01.

First Solar (NASDAQ:FSLRGet Rating) last announced its quarterly earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.09). The company had revenue of $621.00 million for the quarter, compared to analyst estimates of $606.45 million. First Solar had a return on equity of 3.21% and a net margin of 7.63%. The firm’s quarterly revenue was down 1.3% on a year-over-year basis. During the same quarter last year, the company posted $0.77 earnings per share. On average, equities analysts expect that First Solar will post 0.09 EPS for the current year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 32,239 shares of the stock in a transaction that occurred on Thursday, July 28th. The stock was sold at an average price of $89.72, for a total value of $2,892,483.08. Following the completion of the sale, the chief executive officer now directly owns 81,861 shares of the company’s stock, valued at $7,344,568.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other First Solar news, General Counsel Jason E. Dymbort sold 3,430 shares of the business’s stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $70.61, for a total value of $242,192.30. Following the transaction, the general counsel now owns 3,429 shares of the company’s stock, valued at $242,121.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Mark R. Widmar sold 32,239 shares of the business’s stock in a transaction on Thursday, July 28th. The stock was sold at an average price of $89.72, for a total value of $2,892,483.08. Following the sale, the chief executive officer now owns 81,861 shares of the company’s stock, valued at approximately $7,344,568.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 55,131 shares of company stock valued at $4,606,429. Insiders own 0.54% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FSLR. Cullen Frost Bankers Inc. bought a new stake in First Solar during the fourth quarter worth about $26,000. Sageworth Trust Co of South Dakota bought a new stake in First Solar during the fourth quarter valued at $29,000. Ellevest Inc. raised its holdings in shares of First Solar by 53.3% during the first quarter. Ellevest Inc. now owns 374 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 130 shares during the period. Covestor Ltd raised its holdings in shares of First Solar by 97.7% during the first quarter. Covestor Ltd now owns 421 shares of the solar cell manufacturer’s stock valued at $35,000 after purchasing an additional 208 shares during the period. Finally, IndexIQ Advisors LLC bought a new stake in shares of First Solar during the fourth quarter worth about $49,000. Institutional investors and hedge funds own 75.42% of the company’s stock.

First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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