First Solar (NASDAQ:FSLR) Price Target Raised to $271.00 at Oppenheimer

First Solar (NASDAQ:FSLR) had its price objective lifted by Oppenheimer from $269.00 to $271.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other research analysts also recently weighed in on FSLR. Barclays increased their target price on shares of First Solar from $224.00 to $227.00 and gave the company an overweight rating in a research report on Friday, April 19th. Roth Mkm restated a buy rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. DZ Bank started coverage on First Solar in a research note on Wednesday, April 17th. They set a buy rating and a $205.00 price target for the company. Wells Fargo & Company upgraded First Solar from an equal weight rating to an overweight rating and boosted their price objective for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Finally, The Goldman Sachs Group lifted their target price on shares of First Solar from $265.00 to $268.00 and gave the stock a buy rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $238.16.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $191.55 on Thursday. The company has a market capitalization of $20.50 billion, a PE ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The stock’s 50 day moving average price is $166.57 and its 200-day moving average price is $158.31. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The business’s revenue was up 44.8% on a year-over-year basis. On average, equities analysts anticipate that First Solar will post 13.55 EPS for the current year.

Insider Buying and Selling

In other news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of First Solar 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 completion of the transaction, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock valued at $4,269,540 over the last quarter. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its holdings in First Solar by 7,854.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 11,932 shares of the solar cell manufacturer’s stock worth $2,014,000 after buying an additional 11,782 shares in the last quarter. Mediolanum International Funds Ltd purchased a new stake in shares of First Solar during the 1st quarter valued at about $9,059,000. Wellington Shields & Co. LLC grew its stake in shares of First Solar by 20.8% in the first quarter. Wellington Shields & Co. LLC now owns 5,430 shares of the solar cell manufacturer’s stock worth $917,000 after acquiring an additional 936 shares during the period. GSA Capital Partners LLP raised its holdings in shares of First Solar by 4.2% during the first quarter. GSA Capital Partners LLP now owns 4,556 shares of the solar cell manufacturer’s stock valued at $769,000 after purchasing an additional 182 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in First Solar by 27.5% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 52,257 shares of the solar cell manufacturer’s stock valued at $8,821,000 after purchasing an additional 11,276 shares during the period. Hedge funds and other 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.