First Solar (NASDAQ:FSLR) Price Target Raised to $220.00 at Citigroup

First Solar (NASDAQ:FSLR – Get Rating) had its price objective boosted by Citigroup from $75.00 to $220.00 in a report released on Friday morning, Benzinga reports. They currently have a neutral rating on the solar cell manufacturer’s stock.

Other equities research analysts also recently issued reports about the stock. Wells Fargo & Company lifted their price objective on shares of First Solar from $188.00 to $233.00 and gave the stock an overweight rating in a research note on Monday, March 6th. JPMorgan Chase & Co. cut shares of First Solar from an overweight rating to a neutral rating and raised their target price for the stock from $147.00 to $190.00 in a report on Monday, November 28th. Susquehanna raised their target price on shares of First Solar from $175.00 to $225.00 and gave the stock a positive rating in a report on Wednesday, January 18th. Evercore ISI cut shares of First Solar from an outperform rating to an in-line rating and cut their price objective for the company from $157.00 to $150.00 in a report on Wednesday, March 1st. Finally, Morgan Stanley lifted their price objective on shares of First Solar from $146.00 to $194.00 and gave the company an equal weight rating in a report on Tuesday, January 10th. Seven analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $196.38.

First Solar Stock Down 2.0 %

Shares of FSLR opened at $203.58 on Friday. The firm has a market capitalization of $21.70 billion, a P/E ratio of -484.70 and a beta of 1.36. First Solar has a 12-month low of $59.60 and a 12-month high of $218.25. The company has a current ratio of 3.65, a quick ratio of 3.05 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average price of $173.74 and a 200-day moving average price of $154.11.

First Solar (NASDAQ:FSLR – Get Rating) last released its quarterly earnings data on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.11. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $1 billion. First Solar had a negative net margin of 1.69% and a negative return on equity of 0.75%. The firm’s revenue for the quarter was up 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.23 earnings per share. Equities research analysts expect that First Solar will post 7.17 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, Director Richard D. Chapman sold 7,500 shares of the business’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $211.00, for a total transaction of $1,582,500.00. Following the completion of the sale, the director now owns 21,689 shares in the company, valued at approximately $4,576,379. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, Director Richard D. Chapman sold 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $211.00, for a total value of $1,582,500.00. Following the completion of the transaction, the director now owns 21,689 shares in the company, valued at approximately $4,576,379. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Jason E. Dymbort sold 1,610 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $200.21, for a total transaction of $322,338.10. Following the completion of the sale, the general counsel now directly owns 5,039 shares of the company’s stock, valued at approximately $1,008,858.19. The disclosure for this sale can be found here. Insiders sold 37,909 shares of company stock worth $7,870,618 in the last 90 days. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Avengers Inc. raised its holdings in shares of First Solar by 27.1% in the 4th quarter. Financial Avengers Inc. now owns 286 shares of the solar cell manufacturer’s stock worth $43,000 after purchasing an additional 61 shares in the last quarter. Wealth Architects LLC lifted its position in First Solar by 3.0% in the 4th quarter. Wealth Architects LLC now owns 2,104 shares of the solar cell manufacturer’s stock worth $315,000 after buying an additional 61 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of First Solar by 15.8% during the 3rd quarter. Fifth Third Bancorp now owns 601 shares of the solar cell manufacturer’s stock valued at $79,000 after acquiring an additional 82 shares in the last quarter. CWM LLC increased its stake in shares of First Solar by 3.5% in the fourth quarter. CWM LLC now owns 2,625 shares of the solar cell manufacturer’s stock worth $393,000 after acquiring an additional 88 shares during the last quarter. Finally, Cary Street Partners Asset Management LLC raised its holdings in shares of First Solar by 25.9% during the fourth quarter. Cary Street Partners Asset Management LLC now owns 433 shares of the solar cell manufacturer’s stock worth $65,000 after acquiring an additional 89 shares in the last quarter. 80.97% of the stock is owned by institutional investors and hedge funds.

First Solar Company Profile

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First Solar, Inc engages in designing, manufacturing, marketing, and the distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.