First Solar (NASDAQ:FSLR) PT Raised to $252.00

First Solar (NASDAQ:FSLR) had its price objective raised by UBS Group from $250.00 to $252.00 in a research note published on Thursday morning, Benzinga reports. UBS Group currently has a buy rating on the solar cell manufacturer’s stock.

A number of other research analysts have also weighed in on the stock. Oppenheimer raised their target price on shares of First Solar from $269.00 to $271.00 and gave the company an outperform rating in a report on Thursday. Morgan Stanley raised their target price on shares of First Solar from $245.00 to $248.00 and gave the company an overweight rating in a report on Thursday. DZ Bank assumed coverage on First Solar in a research report on Wednesday, April 17th. They issued a buy rating and a $205.00 price target for the company. Mizuho raised their price target on First Solar from $196.00 to $209.00 and gave the stock a buy rating in a research report on Thursday. Finally, Royal Bank of Canada restated an outperform rating and issued a $195.00 price target on shares of First Solar in a research report on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, First Solar has an average rating of Moderate Buy and an average price target of $238.16.

First Solar Price Performance

FSLR traded up $11.04 during trading on Thursday, reaching $191.55. 3,008,268 shares of the company traded hands, compared to its average volume of 2,074,836. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. The firm has a fifty day simple moving average of $166.57 and a 200 day simple moving average of $158.28. The company has a market cap of $20.50 billion, a P/E ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37.

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

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $2,592,551.85. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 26,620 shares of company stock worth $4,269,540. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake 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 acquiring an additional 111,786 shares during the last quarter. Schroder Investment Management Group grew its stake 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 acquiring an additional 351,540 shares during the last quarter. Wellington Management Group LLP grew its stake 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 acquiring an additional 211,755 shares during 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 holdings 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 during the period. Hedge funds and other 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.