First Solar (NASDAQ:FSLR) PT Raised to $83.00

First Solar (NASDAQ:FSLRGet Rating) had its target price upped by JPMorgan Chase & Co. from $73.00 to $83.00 in a research report released on Friday, The Fly reports. The firm currently has a maintains rating on the solar cell manufacturer’s stock.

A number of other research analysts also recently issued reports on FSLR. Morgan Stanley reduced their price target on shares of First Solar from $62.00 to $54.00 and set an underweight rating on the stock in a research report on Monday, June 13th. Roth Capital raised their price target on shares of First Solar from $78.00 to $85.00 in a research report on Friday, April 29th. Credit Suisse Group cut their price objective on shares of First Solar to $77.00 in a research report on Monday, July 25th. Oppenheimer upgraded shares of First Solar from a market perform rating to an outperform rating and set a $116.00 price objective on the stock in a research report on Friday. Finally, Piper Sandler upgraded shares of First Solar from a neutral rating to an overweight rating and lifted their price objective for the company from $80.00 to $90.00 in a research report on Thursday, May 12th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Hold and a consensus price target of $94.87.

First Solar Trading Up 0.3 %

NASDAQ FSLR opened at $99.49 on Friday. The company’s fifty day moving average price is $70.20 and its two-hundred day moving average price is $73.01. The company has a debt-to-equity ratio of 0.03, a current ratio of 4.21 and a quick ratio of 3.20. First Solar has a 12 month low of $59.60 and a 12 month high of $123.13. The company has a market capitalization of $10.60 billion, a price-to-earnings ratio of 56.53, a price-to-earnings-growth ratio of 71.94 and a beta of 1.49.

First Solar (NASDAQ:FSLRGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). First Solar had a return on equity of 3.21% and a net margin of 7.63%. The business had revenue of $621.00 million during the quarter, compared to the consensus estimate of $606.45 million. During the same quarter in the previous year, the business posted $0.77 earnings per share. The company’s quarterly revenue was down 1.3% compared to the same quarter last year. As a group, research analysts predict that First Solar will post 0.09 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 13,648 shares of First Solar stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $75.28, for a total value of $1,027,421.44. Following the transaction, the chief executive officer now owns 114,100 shares of the company’s stock, valued at approximately $8,589,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Mark R. Widmar sold 13,648 shares of First Solar stock in a transaction that occurred on Friday, May 6th. The shares were sold at an average price of $75.28, for a total value of $1,027,421.44. Following the transaction, the chief executive officer now owns 114,100 shares of the company’s stock, valued at approximately $8,589,448. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Jason E. Dymbort sold 3,430 shares of First Solar stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $70.61, for a total transaction of $242,192.30. Following the completion of the transaction, the general counsel now directly owns 3,429 shares in the company, valued at approximately $242,121.69. The disclosure for this sale can be found here. Insiders have sold 55,131 shares of company stock valued at $4,606,429 in the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds have recently made changes to their positions in FSLR. Cullen Frost Bankers Inc. acquired a new stake in First Solar during the 4th quarter valued at $26,000. Sageworth Trust Co of South Dakota acquired a new stake in First Solar during the 4th quarter valued at $29,000. Ellevest Inc. raised its stake in First Solar by 53.3% during the 1st 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 stake in First Solar by 97.7% during the 1st 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 acquired a new stake in First Solar during the 4th quarter valued at $49,000. Hedge funds and other institutional investors own 75.42% of the company’s stock.

About First Solar

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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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