First Solar (NASDAQ:FSLR) Price Target Raised to $227.00

First Solar (NASDAQ:FSLR) had its price target raised by Barclays from $224.00 to $227.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an overweight rating on the solar cell manufacturer’s stock.

Several other research firms have also recently weighed in on FSLR. Janney Montgomery Scott started coverage on shares of First Solar in a report on Friday, April 12th. They issued a buy rating and a $236.00 price target on the stock. Royal Bank of Canada reissued an outperform rating and issued a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th. Roth Mkm reissued a buy rating and issued a $230.00 price target on shares of First Solar in a report on Thursday. Mizuho increased their price target on shares of First Solar from $188.00 to $196.00 and gave the company a buy rating in a report on Wednesday, January 3rd. Finally, Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and increased their price target for the company from $187.00 to $250.00 in a report on Friday. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $229.68.

First Solar Stock Up 0.4 %

Shares of FSLR stock opened at $175.04 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55. The firm’s 50-day moving average is $161.34 and its 200-day moving average is $156.24. The stock has a market cap of $18.74 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.30 and a beta of 1.41. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. The company had revenue of $1.16 billion for the quarter, compared to analysts’ expectations of $1.31 billion. First Solar had a net margin of 25.03% and a return on equity of 13.80%. First Solar’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.07) EPS. Sell-side analysts predict that First Solar will post 13.55 EPS for the current year.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter valued at approximately $25,000. First Pacific Financial bought a new position in shares of First Solar during the third quarter valued at $27,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar during the fourth quarter valued at $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the third quarter valued at $29,000. Finally, Baystate Wealth Management LLC bought a new position in shares of First Solar during the fourth quarter valued at $29,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.