First Solar (NASDAQ:FSLR) Price Target Raised to $270.00

First Solar (NASDAQ:FSLR) had its price target boosted by UBS Group from $252.00 to $270.00 in a research report released on Tuesday, Benzinga reports. UBS Group currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other reports. 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 report on Thursday, May 2nd. The Goldman Sachs Group boosted their price target on shares of First Solar from $265.00 to $268.00 and gave the company a buy rating in a research report on Thursday, May 2nd. DZ Bank assumed coverage on shares of First Solar in a research note on Wednesday, April 17th. They issued a buy rating and a $205.00 price target for the company. Oppenheimer lifted their price target on First Solar from $269.00 to $271.00 and gave the stock an outperform rating in a research report on Thursday, May 2nd. Finally, Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and boosted their price objective for the company from $187.00 to $250.00 in a report on Friday, April 19th. Two equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $239.16.

First Solar Stock Up 10.8 %

FSLR opened at $276.74 on Tuesday. 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 has a one year low of $129.21 and a one year high of $278.80. The firm has a market capitalization of $29.62 billion, a P/E ratio of 29.01, 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 $182.34 and a 200-day moving average price of $164.36.

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

Insiders Place Their Bets

In other news, CTO Markus Gloeckler sold 679 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $108,640.00. Following the sale, the chief technology officer now directly owns 14,473 shares in the company, valued at approximately $2,315,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other First Solar news, Director Richard D. Chapman sold 7,264 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $248.95, for a total value of $1,808,372.80. Following the completion of the sale, the director now directly owns 10,440 shares in the company, valued at approximately $2,599,038. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Markus Gloeckler sold 679 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $160.00, for a total transaction of $108,640.00. Following the completion of the sale, the chief technology officer now owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The disclosure for this sale can be found here. Insiders sold 51,455 shares of company stock valued at $9,617,472 in the last three months. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar in the 4th quarter valued at about $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter worth approximately $29,000. Baystate Wealth Management LLC purchased a new stake in First Solar during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new position in First Solar in the third quarter worth $30,000. Institutional investors own 92.08% of the company’s stock.

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.