First Solar (NASDAQ:FSLR) Price Target Raised to $262.00

First Solar (NASDAQ:FSLR) had its price target raised by equities research analysts at JPMorgan Chase & Co. from $240.00 to $262.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the solar cell manufacturer’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 4.07% from the stock’s previous close.

FSLR has been the subject of a number of other research reports. The Goldman Sachs Group upped their price objective on shares of First Solar from $265.00 to $268.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Morgan Stanley upped their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Guggenheim reduced their price target on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a research report on Thursday, May 2nd. Bank of America upped their price target on shares of First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Finally, Jefferies Financial Group upped their price target on shares of First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Two investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $239.16.

First Solar Price Performance

Shares of FSLR opened at $251.75 on Thursday. The firm has a market capitalization of $26.95 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 0.28 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar has a 1-year low of $129.21 and a 1-year high of $253.99. The company’s fifty day moving average price is $177.74 and its 200-day moving average price is $162.86.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period in the prior year, the company earned $0.40 earnings per share. The firm’s revenue was up 44.8% on a year-over-year basis. On average, equities research analysts predict that First Solar will post 13.56 EPS for the current year.

Insider Buying and Selling at First Solar

In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the firm’s 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 filing with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of First Solar 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 sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Insiders sold 44,191 shares of company stock valued at $7,809,099 in the last 90 days. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the fourth quarter worth about $27,000. Baystate Wealth Management LLC purchased a new stake in First Solar during the fourth quarter worth about $29,000. Estabrook Capital Management purchased a new stake in First Solar during the third quarter worth about $29,000. Finally, Riverview Trust Co purchased a new stake in First Solar during the first quarter worth about $32,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.