Piper Sandler Raises First Solar (NASDAQ:FSLR) Price Target to $219.00

First Solar (NASDAQ:FSLR) had its price objective hoisted by Piper Sandler from $195.00 to $219.00 in a research note released on Tuesday, Benzinga reports. Piper Sandler currently has an overweight rating on the solar cell manufacturer’s stock.

Other research analysts have also recently issued research reports about the stock. Mizuho boosted their price objective on shares of First Solar from $196.00 to $209.00 and gave the company a buy rating in a research report on Thursday, May 2nd. Bank of America upped their price objective on First Solar from $187.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Oppenheimer lifted their target price on First Solar from $269.00 to $271.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. 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 report on Thursday, May 2nd. Finally, Morgan Stanley lifted their price objective on shares of First Solar from $245.00 to $248.00 and gave the company an overweight rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $239.16.

First Solar Trading Up 10.8 %

FSLR stock opened at $276.74 on Tuesday. The firm has a market cap of $29.62 billion, a PE ratio of 29.01, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The firm has a fifty day moving average price of $182.34 and a 200 day moving average price of $164.36. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $278.80.

First Solar (NASDAQ:FSLR) last issued 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. The company had revenue of $794.10 million for the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.40 earnings per share. Sell-side analysts anticipate that First Solar will post 13.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Caroline Stockdale sold 12,406 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the completion of the transaction, the insider now directly owns 22,025 shares of the company’s stock, valued at approximately $4,515,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other First Solar news, CTO Markus Gloeckler sold 679 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the sale, the chief technology officer now owns 14,473 shares in the company, valued at approximately $2,315,680. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Caroline Stockdale sold 12,406 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the completion of the transaction, the insider now directly owns 22,025 shares in the company, valued at $4,515,125. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 51,455 shares of company stock valued at $9,617,472. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar in the 1st quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the 4th quarter worth about $27,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar during the 4th quarter valued at about $29,000. Estabrook Capital Management acquired a new position in shares of First Solar in the 3rd quarter valued at about $29,000. Finally, Riverview Trust Co purchased a new stake in shares of First Solar in the first quarter worth about $32,000. 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.