First Solar (NASDAQ:FSLR) Price Target Raised to $194.00 at Bank of America

First Solar (NASDAQ:FSLR) had its target price lifted by Bank of America from $187.00 to $194.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other reports. Wells Fargo & Company cut First Solar from an overweight rating to an equal weight rating and lowered their target price for the company from $215.00 to $187.00 in a research note on Monday, January 8th. Royal Bank of Canada reissued an outperform rating and issued a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Oppenheimer lifted their target price on First Solar from $268.00 to $269.00 and gave the company an outperform rating in a research note on Wednesday, February 28th. Jefferies Financial Group initiated coverage on First Solar in a research note on Friday, December 15th. They issued a buy rating and a $211.00 target price for the company. Finally, Mizuho lifted their target price on First Solar from $188.00 to $196.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $227.61.

First Solar Trading Up 0.3 %

Shares of FSLR opened at $185.29 on Wednesday. The stock has a fifty day moving average price of $156.68 and a two-hundred day moving average price of $155.32. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00. The company has a market cap of $19.83 billion, a price-to-earnings ratio of 23.94, a PEG ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter in the previous year, the company posted ($0.07) EPS. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. Analysts predict that First Solar will post 13.54 EPS for the current fiscal year.

Insider Activity

In other news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was 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 in the company, valued at $6,539,477.55. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the sale, the chief technology officer now owns 12,536 shares in the company, valued at $2,193,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 over the last three months. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Banque Cantonale Vaudoise raised its holdings in First Solar by 1.8% during the first quarter. Banque Cantonale Vaudoise now owns 17,469 shares of the solar cell manufacturer’s stock worth $2,949,000 after acquiring an additional 301 shares in the last quarter. Czech National Bank raised its holdings in First Solar by 0.5% during the first quarter. Czech National Bank now owns 18,799 shares of the solar cell manufacturer’s stock worth $3,173,000 after acquiring an additional 86 shares in the last quarter. Alaska Permanent Fund Corp bought a new stake in First Solar during the first quarter worth about $982,000. GAMMA Investing LLC increased its position in First Solar by 13.2% during the first quarter. GAMMA Investing LLC now owns 1,096 shares of the solar cell manufacturer’s stock worth $185,000 after buying an additional 128 shares during the last quarter. Finally, Compass Wealth Management LLC increased its position in First Solar by 70.3% during the first quarter. Compass Wealth Management LLC now owns 2,120 shares of the solar cell manufacturer’s stock worth $358,000 after buying an additional 875 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

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.