Susquehanna Raises First Solar (NASDAQ:FSLR) Price Target to $285.00

First Solar (NASDAQ:FSLR) had its price objective increased by equities research analysts at Susquehanna from $258.00 to $285.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price objective points to a potential upside of 31.50% from the company’s previous close.

A number of other equities analysts have also issued reports on the stock. Guggenheim reduced their target price on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a research report on Thursday, May 2nd. Bank of America increased their price objective on shares of First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of First Solar from $215.00 to $280.00 and gave the company a “buy” rating in a report on Friday, June 28th. Janney Montgomery Scott lowered shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. Finally, Roth Mkm restated a “buy” rating and issued a $320.00 price objective (up from $230.00) on shares of First Solar in a report on Friday, May 31st. Five investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $267.12.

First Solar Price Performance

Shares of First Solar stock opened at $216.73 on Wednesday. The company has a current ratio of 2.41, a quick ratio of 1.86 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $23.20 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 0.30 and a beta of 1.44. First Solar has a 1-year low of $129.21 and a 1-year high of $306.77. The firm’s 50-day moving average price is $234.23 and its two-hundred day moving average price is $186.29.

First Solar (NASDAQ:FSLR) last announced its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same period in the prior year, the business earned $0.40 earnings per share. First Solar’s quarterly revenue was up 44.8% on a year-over-year basis. On average, equities analysts predict that First Solar will post 13.58 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Kuntal Kumar Verma sold 1,621 shares of the stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the sale, the insider now owns 3,549 shares of the company’s stock, valued at $922,740. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, 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 legal filing with the SEC, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total transaction of $421,460.00. Following the completion of the transaction, the insider now directly owns 3,549 shares of the company’s stock, valued at approximately $922,740. The disclosure for this sale can be found here. Insiders sold 55,490 shares of company stock valued at $13,301,803 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in shares of First Solar in the 4th quarter valued at about $27,000. Baystate Wealth Management LLC bought a new position in shares of First Solar in the 4th quarter valued at about $29,000. Headinvest LLC bought a new position in shares of First Solar in the 3rd quarter valued at about $30,000. Finally, Riverview Trust Co bought a new position in shares of First Solar in the 1st quarter valued at about $32,000. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.