First Solar (NASDAQ:FSLR) Price Target Increased to $209.00 by Analysts at Mizuho

First Solar (NASDAQ:FSLR) had its price target increased by Mizuho from $196.00 to $209.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Susquehanna reissued a positive rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. Janney Montgomery Scott began coverage on First Solar in a report on Friday, April 12th. They issued a buy rating and a $236.00 target price for the company. DZ Bank began coverage on First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 target price for the company. Barclays raised their target price on First Solar from $224.00 to $227.00 and gave the company an overweight rating in a report on Friday, April 19th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $238.16.

First Solar Stock Performance

Shares of FSLR stock traded up $11.04 during trading hours on Thursday, hitting $191.55. The stock had a trading volume of 3,008,268 shares, compared to its average volume of 2,074,836. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The stock’s 50 day moving average is $166.57 and its 200 day moving average is $158.28. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 2.92.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results 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 the consensus estimate of $718.19 million. During the same period last year, the company earned $0.40 earnings per share. The company’s revenue for the quarter was up 44.8% on a year-over-year basis. As a group, research analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CTO Markus Gloeckler sold 1,937 shares of First Solar stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at approximately $2,193,800. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,620 shares of company stock valued at $4,269,540. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in First Solar in the 4th quarter worth approximately $298,123,000. Clean Energy Transition LLP lifted its position in shares of First Solar by 948.8% during the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock worth $191,750,000 after purchasing an additional 1,073,500 shares in the last quarter. Barclays PLC boosted its stake in shares of First Solar by 125.5% in the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock valued at $137,130,000 after purchasing an additional 472,327 shares during the period. Schroder Investment Management Group grew its holdings in First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Finally, Covalis Capital LLP increased its stake in First Solar by 615.6% during the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock worth $65,931,000 after buying an additional 350,996 shares during the period. 92.08% of the stock is owned by institutional investors and hedge funds.

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.