First Solar (NASDAQ:FSLR) Trading Up 0.5%

First Solar, Inc. (NASDAQ:FSLR)’s share price rose 0.5% during mid-day trading on Friday . The stock traded as high as $238.53 and last traded at $234.64. Approximately 419,156 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 2,483,985 shares. The stock had previously closed at $233.45.

Analyst Upgrades and Downgrades

FSLR has been the topic of several research reports. BMO Capital Markets upped their target price on First Solar from $224.00 to $311.00 and gave the stock an “outperform” rating in a research report on Monday, June 10th. Oppenheimer increased their price objective on First Solar from $271.00 to $325.00 and gave the company an “outperform” rating in a report on Wednesday, June 12th. Bank of America increased their price objective on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Wells Fargo & Company raised First Solar from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $250.00 in a report on Friday, April 19th. Finally, Barclays raised their price objective on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 15th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $271.92.

First Solar Stock Performance

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The company has a market cap of $25.11 billion, a price-to-earnings ratio of 24.60, a P/E/G ratio of 0.30 and a beta of 1.44. The company has a fifty day moving average of $241.28 and a two-hundred day moving average of $188.94.

First Solar (NASDAQ:FSLR) last posted 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. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same period last year, the company posted $0.40 EPS. The business’s quarterly revenue was up 44.8% on a year-over-year basis. Equities research analysts anticipate that First Solar, Inc. will post 13.63 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at approximately $199,051.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Alexander R. Bradley sold 16,051 shares of the stock in a transaction dated Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the sale, the chief financial officer now directly owns 30,652 shares in the company, valued at $8,419,797.88. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard D. Chapman sold 3,165 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.48, for a total transaction of $602,869.20. Following the sale, the director now owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock worth $12,540,428 in the last 90 days. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in FSLR. Cambridge Trust Co. grew its position in shares of First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after buying an additional 50 shares during the period. Great Diamond Partners LLC grew its position in shares of First Solar by 3.8% in the 1st quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after buying an additional 53 shares during the period. Massmutual Trust Co. FSB ADV grew its position in shares of First Solar by 24.9% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after buying an additional 62 shares during the period. Family Legacy Inc. grew its position in First Solar by 1.4% during the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock valued at $836,000 after purchasing an additional 69 shares during the last quarter. Finally, Harbor Investment Advisory LLC grew its position in First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock valued at $46,000 after purchasing an additional 72 shares during the last quarter. 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.