First Solar (NASDAQ:FSLR) Price Target Lowered to $290.00 at Robert W. Baird

First Solar (NASDAQ:FSLR) had its price objective trimmed by Robert W. Baird from $318.00 to $290.00 in a research note published on Tuesday. The firm currently has an outperform rating on the solar cell manufacturer’s stock.

Several other analysts also recently commented on the stock. Citigroup downgraded shares of First Solar from a “buy” rating to a “hold” rating in a report on Thursday, August 27th. Glj Research lowered their price objective on shares of First Solar from $315.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday. Deutsche Bank Aktiengesellschaft cut shares of First Solar from a “buy” rating to a “hold” rating in a research report on Thursday, August 27th. Barclays lifted their price target on First Solar from $213.00 to $279.00 and gave the company an “overweight” rating in a research note on Tuesday, July 14th. Finally, Guggenheim upped their price objective on First Solar from $279.00 to $282.00 and gave the stock a “buy” rating in a research report on Monday, August 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $266.53.

First Solar Price Performance

Shares of FSLR stock opened at $187.64 on Tuesday. The stock has a market cap of $20.16 billion, a PE ratio of 11.55, a price-to-earnings-growth ratio of 0.53 and a beta of 1.74. The stock has a 50-day moving average of $212.17 and a 200-day moving average of $221.27. First Solar has a one year low of $182.99 and a one year high of $320.95.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, July 30th. The solar cell manufacturer reported $3.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.90 by $1.02. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.06 billion. First Solar had a net margin of 32.47% and a return on equity of 18.02%. The business’s revenue for the quarter was down 3.4% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.18 earnings per share. As a group, research analysts anticipate that First Solar will post 17.78 earnings per share for the current year.

Insider Activity

In other First Solar news, General Counsel Jason E. Dymbort sold 3,700 shares of the stock in a transaction on Tuesday, August 11th. The shares were sold at an average price of $249.38, for a total value of $922,706.00. Following the completion of the sale, the general counsel owned 5,624 shares in the company, valued at $1,402,513.12. This trade represents a 39.68% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Michael Koralewski sold 7,000 shares of First Solar stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $221.51, for a total transaction of $1,550,570.00. Following the completion of the transaction, the insider directly owned 7,642 shares of the company’s stock, valued at approximately $1,692,779.42. This trade represents a 47.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 15,881 shares of company stock valued at $3,617,086 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Reflection Asset Management acquired a new stake in shares of First Solar in the fourth quarter valued at approximately $26,000. Commonwealth Retirement Investments LLC bought a new stake in First Solar in the 4th quarter valued at $26,000. Larson Financial Group LLC lifted its holdings in First Solar by 117.0% during the 4th quarter. Larson Financial Group LLC now owns 102 shares of the solar cell manufacturer’s stock valued at $27,000 after purchasing an additional 55 shares during the last quarter. MV Capital Management Inc. acquired a new stake in First Solar during the 4th quarter valued at $30,000. Finally, Clearstead Trust LLC bought a new position in First Solar during the second quarter worth $34,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

First Solar, Inc is a renewable energy technology company that designs and manufactures photovoltaic (PV) solar modules. Unlike conventional crystalline-silicon panels, its modules use thin-film semiconductor technology based on cadmium telluride (CdTe). The company also provides supporting services, including project development, engineering, procurement and construction support, operations and maintenance, and module recycling.

First Solar primarily serves utility-scale solar developers, system owners and operators, commercial customers, and government entities.