First Solar (NASDAQ:FSLR) Given New $280.00 Price Target at Roth Mkm

First Solar (NASDAQ:FSLR) had its price target decreased by Roth Mkm from $320.00 to $280.00 in a research report sent to investors on Tuesday, Benzinga reports. Roth Mkm currently has a buy rating on the solar cell manufacturer’s stock.

Several other brokerages have also issued reports on FSLR. Barclays boosted their target price on shares of First Solar from $280.00 to $290.00 and gave the company an overweight rating in a research report on Friday, August 2nd. Piper Sandler upped their price objective on First Solar from $219.00 to $250.00 and gave the stock an overweight rating in a research note on Monday, July 22nd. DZ Bank raised First Solar from a hold rating to a buy rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. JPMorgan Chase & Co. boosted their price target on First Solar from $262.00 to $282.00 and gave the company an overweight rating in a report on Tuesday, July 16th. Finally, William Blair initiated coverage on First Solar in a research report on Thursday, August 29th. They set a market perform rating on the stock. Four research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $283.84.

First Solar Price Performance

NASDAQ FSLR opened at $201.98 on Tuesday. The stock has a market capitalization of $21.62 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.38 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 company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65. The business’s fifty day moving average price is $227.45 and its 200-day moving average price is $222.49.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $0.56. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. First Solar’s revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.85 earnings per share. On average, equities analysts predict that First Solar will post 13.53 earnings per share for the current year.

Insider Activity

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares in the company, valued at $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total value of $382,339.00. Following the sale, the chief accounting officer now directly owns 500 shares in the company, valued at approximately $108,250. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Sumitomo Mitsui Trust Holdings Inc. grew its stake in First Solar by 6.3% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock worth $43,749,000 after acquiring an additional 15,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after purchasing an additional 20,465 shares in the last quarter. Legend Financial Advisors Inc. bought a new position in First Solar in the first quarter worth approximately $759,000. Vanguard Group Inc. increased its holdings in First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares during the period. Finally, BNP Paribas bought a new stake in shares of First Solar in the first quarter valued at about $1,258,000. Hedge funds and other 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.