First Solar (NASDAQ:FSLR) Price Target Cut to $205.00 by Analysts at Piper Sandler

First Solar (NASDAQ:FSLR) had its price objective dropped by stock analysts at Piper Sandler from $230.00 to $205.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the solar cell manufacturer’s stock. Piper Sandler’s price target would suggest a potential upside of 65.72% from the company’s current price.

A number of other research analysts have also recently issued reports on the stock. Guggenheim lowered their price target on shares of First Solar from $304.00 to $253.00 and set a “buy” rating for the company in a research report on Monday, April 7th. Wells Fargo & Company dropped their price objective on First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research report on Wednesday, January 8th. Susquehanna decreased their price objective on shares of First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a report on Monday, April 14th. Bank of America decreased their target price on shares of First Solar from $236.00 to $215.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Truist Financial reiterated a “buy” rating and set a $245.00 price objective (down previously from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. Four equities research analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $250.58.

First Solar Trading Down 3.3 %

NASDAQ:FSLR opened at $123.70 on Monday. The firm has a market capitalization of $13.24 billion, a P/E ratio of 10.65, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company has a fifty day moving average of $136.14 and a 200 day moving average of $171.59. First Solar has a 52 week low of $116.56 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. On average, research analysts predict that First Solar will post 13.05 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Kuntal Kumar Verma sold 7,475 shares of the firm’s stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $136.60, for a total transaction of $1,021,085.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $484,793.40. This trade represents a 67.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Mark R. Widmar sold 1,272 shares of the firm’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $169,125.12. Following the completion of the transaction, the chief executive officer now directly owns 109,000 shares in the company, valued at $14,492,640. This represents a 1.15 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock valued at $4,767,158 over the last three months. 0.48% of the stock is owned by company insiders.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,821,701 shares of the solar cell manufacturer’s stock valued at $2,259,697,000 after purchasing an additional 120,289 shares in the last quarter. Geode Capital Management LLC boosted its position in First Solar by 2.4% during the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after acquiring an additional 63,739 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of First Solar by 12.5% in the 4th quarter. Wellington Management Group LLP now owns 2,359,846 shares of the solar cell manufacturer’s stock valued at $415,899,000 after acquiring an additional 262,482 shares during the period. Invesco Ltd. raised its stake in shares of First Solar by 13.9% during the 4th quarter. Invesco Ltd. now owns 1,835,056 shares of the solar cell manufacturer’s stock worth $323,410,000 after acquiring an additional 223,933 shares in the last quarter. Finally, Amundi grew its holdings in First Solar by 31.0% in the fourth quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock worth $336,871,000 after purchasing an additional 426,797 shares during the last quarter. 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.