Robert W. Baird Trims First Solar (NASDAQ:FSLR) Target Price to $307.00

First Solar (NASDAQ:FSLR) had its price objective lowered by Robert W. Baird from $344.00 to $307.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an outperform rating on the solar cell manufacturer’s stock.

Other analysts also recently issued reports about the company. Barclays raised their target price on First Solar from $227.00 to $228.00 and gave the stock an overweight rating in a research note on Wednesday, May 15th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of First Solar from $215.00 to $280.00 and gave the stock a buy rating in a research report on Friday, June 28th. Morgan Stanley boosted their target price on shares of First Solar from $248.00 to $331.00 and gave the company an overweight rating in a report on Tuesday, June 4th. Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and raised their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Finally, Mizuho reaffirmed a neutral rating and set a $274.00 price target (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. Five equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, First Solar presently has an average rating of Moderate Buy and a consensus target price of $266.04.

First Solar Stock Performance

FSLR opened at $216.73 on Tuesday. The firm has a market capitalization of $23.20 billion, a PE ratio of 22.72, a PEG ratio of 0.30 and a beta of 1.44. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77. The firm’s 50-day moving average price is $234.23 and its 200 day moving average price is $186.29.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The business had revenue of $794.10 million for 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%. During the same period in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. As a group, sell-side analysts expect that First Solar will post 13.59 EPS for the current fiscal year.

Insider Activity at First Solar

In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the sale, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other First Solar news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at $8,419,797.88. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the completion of the sale, the chief technology officer now directly owns 12,536 shares of the company’s stock, valued at $2,193,800. The disclosure for this sale can be found here. Insiders have sold 55,490 shares of company stock valued at $13,301,803 over the last quarter. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in First Solar in the 4th quarter valued at $298,123,000. Schroder Investment Management Group raised its holdings in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after buying an additional 351,540 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock worth $68,852,000 after buying an additional 333,496 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock valued at $472,963,000 after acquiring an additional 279,719 shares during the period. Finally, Vanguard Group Inc. raised its stake in First Solar by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock valued at $1,945,549,000 after acquiring an additional 279,424 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other 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.