First Solar (NASDAQ:FSLR) Price Target Lowered to $279.00 at The Goldman Sachs Group

First Solar (NASDAQ:FSLR) had its price objective lowered by The Goldman Sachs Group from $311.00 to $279.00 in a research report sent to investors on Wednesday morning, Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

A number of other equities analysts have also recently issued reports on the company. Susquehanna cut their price target on First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the stock from $200.00 to $254.00 in a research note on Tuesday, October 22nd. Jefferies Financial Group decreased their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Royal Bank of Canada reissued an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research report on Wednesday, July 31st. Finally, UBS Group boosted their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $281.83.

First Solar Trading Down 1.1 %

NASDAQ:FSLR opened at $197.50 on Wednesday. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The firm’s fifty day moving average is $222.68 and its 200-day moving average is $223.93. The firm has a market cap of $21.14 billion, a P/E ratio of 20.70, a P/E/G ratio of 0.34 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The business had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business’s revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.50 earnings per share. Equities analysts expect that First Solar will post 13.39 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares in the company, valued at $769,896. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Several hedge funds have recently made changes to their positions in FSLR. Massmutual Trust Co. FSB ADV increased its holdings in First Solar by 14.5% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after acquiring an additional 45 shares during the last quarter. Davis Investment Partners LLC increased its stake in shares of First Solar by 0.6% in the third quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock worth $1,805,000 after purchasing an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund raised its position in shares of First Solar by 0.5% in the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock valued at $2,068,000 after purchasing an additional 49 shares during the period. Cambridge Trust Co. lifted its stake in shares of First Solar by 1.6% during the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock valued at $546,000 after buying an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC grew its stake in First Solar by 2.8% in the 3rd quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after buying an additional 50 shares in the last quarter. 92.08% of the stock is currently owned by institutional investors.

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.