Morgan Stanley Boosts First Solar (NASDAQ:FSLR) Price Target to $248.00

First Solar (NASDAQ:FSLR) had its price target increased by Morgan Stanley from $245.00 to $248.00 in a report issued on Thursday, Benzinga reports. Morgan Stanley currently has an overweight rating on the solar cell manufacturer’s stock.

Several other brokerages have also recently issued reports on FSLR. DZ Bank began coverage on shares of First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 target price on the stock. Janney Montgomery Scott started coverage on First Solar in a report on Friday, April 12th. They issued a buy rating and a $236.00 price objective for the company. Barclays increased their target price on First Solar from $224.00 to $227.00 and gave the company an overweight rating in a report on Friday, April 19th. Royal Bank of Canada restated an outperform rating and set a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Finally, Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and boosted their target price for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, First Solar presently has an average rating of Moderate Buy and an average price target of $238.16.

First Solar Stock Up 6.1 %

Shares of First Solar stock traded up $11.04 during trading on Thursday, hitting $191.55. The company’s stock had a trading volume of 3,008,268 shares, 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. The company has a fifty day simple moving average of $166.57 and a two-hundred day simple moving average of $158.28. The company has a market capitalization of $20.50 billion, a PE ratio of 20.08, a P/E/G ratio of 0.33 and a beta of 1.37. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The business 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%. First Solar’s revenue was up 44.8% compared to the same quarter last year. During the same period last year, the business earned $0.40 EPS. Equities research analysts predict that First Solar will post 13.55 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Insiders sold a total of 26,620 shares of company stock valued at $4,269,540 in the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. grew its holdings in shares of First Solar by 7,854.7% in the first quarter. Geneos Wealth Management Inc. now owns 11,932 shares of the solar cell manufacturer’s stock valued at $2,014,000 after purchasing an additional 11,782 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of First Solar in the first quarter valued at $9,059,000. Wellington Shields & Co. LLC lifted its position in 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 buying an additional 936 shares during the last quarter. GSA Capital Partners LLP lifted its position in First Solar by 4.2% in the first quarter. GSA Capital Partners LLP now owns 4,556 shares of the solar cell manufacturer’s stock worth $769,000 after buying an additional 182 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S lifted its position in First Solar by 27.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 52,257 shares of the solar cell manufacturer’s stock worth $8,821,000 after buying an additional 11,276 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.