First Solar (NASDAQ:FSLR) Price Target Raised to $163.00

First Solar (NASDAQ:FSLR – Get Rating) had its price objective upped by research analysts at Credit Suisse Group from $152.00 to $163.00 in a report issued on Wednesday, The Fly reports. The firm currently has a “neutral” rating on the solar cell manufacturer’s stock. Credit Suisse Group’s target price points to a potential downside of 21.09% from the stock’s current price.

A number of other equities research analysts also recently issued reports on FSLR. Argus increased their price objective on shares of First Solar from $176.00 to $261.00 in a research note on Tuesday. JPMorgan Chase & Co. downgraded shares of First Solar from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $147.00 to $190.00 in a research report on Monday, November 28th. Cowen raised their target price on First Solar from $195.00 to $205.00 in a report on Wednesday, March 1st. Daiwa Capital Markets initiated coverage on First Solar in a research note on Friday, December 23rd. They issued an “outperform” rating and a $175.00 price target on the stock. Finally, Evercore ISI downgraded First Solar from an “outperform” rating to an “in-line” rating and dropped their price objective for the stock from $157.00 to $150.00 in a research report on Wednesday, March 1st. Eight research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $201.00.

First Solar Stock Performance

Shares of NASDAQ:FSLR opened at $206.56 on Wednesday. First Solar has a 12-month low of $59.60 and a 12-month high of $218.25. The company’s 50 day moving average price is $177.17 and its two-hundred day moving average price is $155.63. The firm has a market cap of $22.02 billion, a PE ratio of -491.80 and a beta of 1.36. The company has a quick ratio of 3.05, a current ratio of 3.65 and a debt-to-equity ratio of 0.03.

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

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 26,553 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $206.70, for a total value of $5,488,505.10. Following the transaction, the chief executive officer now owns 108,413 shares in the company, valued at $22,408,967.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, General Counsel Jason E. Dymbort sold 965 shares of the firm’s stock in a transaction that occurred on Tuesday, March 7th. The stock was sold at an average price of $212.50, for a total transaction of $205,062.50. Following the completion of the sale, the general counsel now owns 6,002 shares of the company’s stock, valued at $1,275,425. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Mark R. Widmar sold 26,553 shares of First Solar stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $206.70, for a total value of $5,488,505.10. Following the completion of the sale, the chief executive officer now owns 108,413 shares of the company’s stock, valued at $22,408,967.10. The disclosure for this sale can be found here. Insiders sold a total of 37,909 shares of company stock worth $7,870,618 over the last three months. 0.54% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. increased its stake in First Solar by 4.6% in the fourth quarter. Victory Capital Management Inc. now owns 67,858 shares of the solar cell manufacturer’s stock valued at $10,164,000 after purchasing an additional 2,989 shares in the last quarter. Rockefeller Capital Management L.P. grew its stake in shares of First Solar by 149.9% in the 4th quarter. Rockefeller Capital Management L.P. now owns 140,883 shares of the solar cell manufacturer’s stock valued at $21,102,000 after buying an additional 84,499 shares during the period. Lakewood Asset Management LLC bought a new stake in First Solar in the 4th quarter valued at about $34,000. Voya Investment Management LLC raised its stake in First Solar by 30.5% during the 4th quarter. Voya Investment Management LLC now owns 36,907 shares of the solar cell manufacturer’s stock worth $5,528,000 after buying an additional 8,626 shares during the period. Finally, Natixis boosted its holdings in First Solar by 52.2% in the fourth quarter. Natixis now owns 115,180 shares of the solar cell manufacturer’s stock worth $17,253,000 after acquiring an additional 39,479 shares in the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.

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.