Susquehanna Cuts First Solar (NASDAQ:FSLR) Price Target to $250.00

First Solar (NASDAQ:FSLR) had its target price decreased by stock analysts at Susquehanna from $280.00 to $250.00 in a report released on Thursday,MarketScreener reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s target price indicates a potential upside of 23.52% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Jefferies Financial Group cut their price objective on shares of First Solar from $205.00 to $187.00 and set a “hold” rating for the company in a research report on Tuesday. Guggenheim dropped their target price on shares of First Solar from $312.00 to $269.00 and set a “buy” rating for the company in a report on Tuesday, March 17th. Raymond James Financial started coverage on shares of First Solar in a report on Monday, January 12th. They issued a “market perform” rating for the company. Royal Bank Of Canada dropped their target price on shares of First Solar from $258.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Finally, Glj Research cut shares of First Solar from a “buy” rating to a “hold” rating and decreased their price target for the stock from $314.43 to $207.82 in a research note on Wednesday, March 4th. Twenty investment analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $246.13.

First Solar Trading Up 0.8%

Shares of FSLR stock opened at $202.39 on Thursday. First Solar has a 1 year low of $117.65 and a 1 year high of $285.99. The firm has a fifty day moving average price of $209.13 and a 200-day moving average price of $235.16. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.67 and a quick ratio of 2.35. The company has a market cap of $21.72 billion, a price-to-earnings ratio of 14.24, a PEG ratio of 0.35 and a beta of 1.61.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, February 24th. The solar cell manufacturer reported $4.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.22 by ($0.38). First Solar had a net margin of 29.28% and a return on equity of 17.32%. The business had revenue of $1.68 billion for the quarter, compared to the consensus estimate of $1.59 billion. During the same period in the previous year, the firm earned $3.65 EPS. The company’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts predict that First Solar will post 13.05 earnings per share for the current year.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 3,426 shares of the business’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $195.93, for a total value of $671,256.18. Following the transaction, the insider directly owned 8,334 shares in the company, valued at $1,632,880.62. The trade was a 29.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Alexander R. Bradley sold 14,106 shares of the company’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $199.97, for a total transaction of $2,820,776.82. Following the completion of the transaction, the chief financial officer owned 30,000 shares in the company, valued at approximately $5,999,100. This represents a 31.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 75,989 shares of company stock valued at $14,921,902 in the last ninety days. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently modified their holdings of FSLR. Woodline Partners LP increased its position in shares of First Solar by 40.7% in the 1st quarter. Woodline Partners LP now owns 9,044 shares of the solar cell manufacturer’s stock valued at $1,143,000 after purchasing an additional 2,615 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of First Solar by 50.9% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 516 shares of the solar cell manufacturer’s stock valued at $85,000 after purchasing an additional 174 shares during the last quarter. Brown Advisory Inc. increased its position in shares of First Solar by 84.3% in the 2nd quarter. Brown Advisory Inc. now owns 4,529 shares of the solar cell manufacturer’s stock valued at $750,000 after purchasing an additional 2,072 shares during the last quarter. Cerity Partners LLC purchased a new position in shares of First Solar in the 2nd quarter valued at $494,000. Finally, California Public Employees Retirement System grew its position in shares of First Solar by 2.9% in the 2nd quarter. California Public Employees Retirement System now owns 138,027 shares of the solar cell manufacturer’s stock valued at $22,849,000 after buying an additional 3,841 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

First Solar, Inc (NASDAQ: FSLR) is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.