First Solar, Inc. (NASDAQ:FSLR) Receives $227.96 Consensus Target Price from Analysts

First Solar, Inc. (NASDAQ:FSLR) has earned an average rating of “Moderate Buy” from the twenty-three analysts that are currently covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $229.68.

FSLR has been the subject of a number of analyst reports. Janney Montgomery Scott initiated coverage on First Solar in a research note on Friday, April 12th. They issued a “buy” rating and a $236.00 price target for the company. Roth Mkm restated a “buy” rating and set a $230.00 price objective on shares of First Solar in a research report on Thursday. Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Bank of America increased their price target on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Barclays raised their price objective on shares of First Solar from $224.00 to $227.00 and gave the stock an “overweight” rating in a research note on Friday.

Insider Activity at First Solar

In related news, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at $2,315,680. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Markus Gloeckler sold 679 shares of First Solar stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the transaction, the chief technology officer now directly owns 14,473 shares in the company, valued at $2,315,680. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock valued at $4,269,540 over the last ninety days. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

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

First Solar Price Performance

NASDAQ FSLR opened at $175.04 on Friday. The business’s fifty day moving average price is $161.34 and its 200-day moving average price is $156.18. The stock has a market capitalization of $18.74 billion, a price-to-earnings ratio of 22.61, a PEG ratio of 0.31 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. First Solar had a return on equity of 13.80% and a net margin of 25.03%. First Solar’s revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the business posted ($0.07) EPS. On average, equities analysts predict that First Solar will post 13.55 earnings per share for the current year.

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.