Barclays Increases First Solar (NASDAQ:FSLR) Price Target to $228.00

First Solar (NASDAQ:FSLR) had its price target increased by research analysts at Barclays from $227.00 to $228.00 in a report issued on Wednesday, Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Barclays‘s target price indicates a potential upside of 17.47% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Mizuho lifted their target price on First Solar from $196.00 to $209.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. increased their target price on shares of First Solar from $237.00 to $240.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Janney Montgomery Scott started coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 price target for the company. Roth Mkm reissued a “buy” rating and set a $230.00 price target on shares of First Solar in a research report on Thursday, April 18th. Finally, DZ Bank initiated coverage on First Solar in a report on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $238.20.

First Solar Trading Down 0.3 %

FSLR stock opened at $194.10 on Wednesday. First Solar has a one year low of $129.21 and a one year high of $224.50. The stock has a market cap of $20.78 billion, a price-to-earnings ratio of 20.40, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a fifty day moving average price of $173.41 and a two-hundred day moving average price of $160.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.40 earnings per share. Equities analysts anticipate that First Solar will post 13.56 EPS for the current year.

Insider Activity at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the 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 completion of the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Kuntal Kumar Verma sold 787 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $125,920.00. Following the sale, the insider now directly owns 4,920 shares in the company, valued at approximately $787,200. The disclosure for this sale can be found here. Insiders sold 31,785 shares of company stock worth $5,265,869 over the last three months. Company insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Hedge funds have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in shares of First Solar during the fourth quarter worth approximately $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar in the 4th quarter worth $29,000. Estabrook Capital Management acquired a new stake in First Solar in the 3rd quarter valued at $29,000. Finally, Riverview Trust Co bought a new stake in First Solar during the 1st quarter valued at $32,000. 92.08% of the stock is currently owned by institutional investors.

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.