First Solar (NASDAQ:FSLR) PT Raised to $268.00

First Solar (NASDAQ:FSLR) had its target price upped by The Goldman Sachs Group from $265.00 to $268.00 in a research report sent to investors on Thursday morning, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also commented on FSLR. Mizuho boosted their price target on shares of First Solar from $196.00 to $209.00 and gave the stock a buy rating in a report on Thursday. Roth Mkm reissued a buy rating and issued a $230.00 price target on shares of First Solar in a report on Thursday, April 18th. 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. DZ Bank started coverage on shares of First Solar in a report on Wednesday, April 17th. They set a buy rating and a $205.00 target price for the company. Finally, Susquehanna reaffirmed a positive rating and set a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Three analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $238.16.

First Solar Stock Performance

FSLR opened at $191.55 on Thursday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. The firm has a fifty day moving average price of $166.57 and a 200 day moving average price of $158.28. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The stock has a market cap of $20.50 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.33 and a beta of 1.37.

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

Insider Activity at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $2,467,524.16. The disclosure for this sale can be found here. Over the last quarter, insiders sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock worth $2,093,515,000 after purchasing an additional 111,786 shares in the last quarter. Schroder Investment Management Group lifted its position in shares of First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of First Solar by 10.2% during the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after purchasing an additional 211,755 shares in the last quarter. Norges Bank acquired a new stake in shares of First Solar during the fourth quarter worth about $298,123,000. Finally, Clean Energy Transition LLP lifted its position in shares of First Solar by 948.8% during the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. Institutional investors and hedge funds 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.