First Solar (NASDAQ:FSLR) Given New $360.00 Price Target at UBS Group

First Solar (NASDAQ:FSLR) had its price target raised by equities research analysts at UBS Group from $350.00 to $360.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s target price indicates a potential upside of 68.03% from the stock’s current price.

A number of other research analysts have also weighed in on the company. Susquehanna increased their price target on First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a research note on Wednesday, July 3rd. DZ Bank downgraded First Solar from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a research report on Wednesday, May 29th. Guggenheim dropped their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating for the company in a research note on Thursday, May 2nd. Wells Fargo & Company raised shares of First Solar from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $187.00 to $250.00 in a research report on Friday, April 19th. Finally, BMO Capital Markets dropped their price target on shares of First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a research report on Wednesday. Five research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, First Solar currently has a consensus rating of “Moderate Buy” and a consensus target price of $272.58.

First Solar Price Performance

First Solar stock traded up $3.36 during midday trading on Wednesday, reaching $214.25. 1,955,089 shares of the company were exchanged, compared to its average volume of 2,514,896. The firm’s 50-day simple moving average is $247.69 and its 200-day simple moving average is $193.88. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 0.29 and a beta of 1.44. 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 (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $939.71 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.85 earnings per share. On average, analysts anticipate that First Solar will post 13.58 EPS for the current year.

Insider Transactions at First Solar

In related news, Director R Craig Kennedy sold 2,000 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the transaction, the director now owns 13,908 shares of the company’s stock, valued at $2,736,120.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, Director R Craig Kennedy sold 2,000 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $196.73, for a total transaction of $393,460.00. Following the transaction, the director now directly owns 13,908 shares in the company, valued at approximately $2,736,120.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $190.48, for a total value of $602,869.20. Following the completion of the sale, the director now directly owns 1,045 shares of the company’s stock, valued at $199,051.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,153 shares of company stock valued at $12,540,428. 0.58% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several institutional investors have recently added to or reduced their stakes in FSLR. Atlas Capital Advisors LLC grew its position in shares of First Solar by 411.1% during the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the last quarter. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the 4th quarter worth approximately $27,000. Summit Securities Group LLC bought a new stake in shares of First Solar in the 2nd quarter worth approximately $36,000. Finally, Baystate Wealth Management LLC acquired a new position in First Solar during the 4th quarter valued at approximately $29,000. 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.