Analysts Set First Solar, Inc. (NASDAQ:FSLR) Price Target at $289.46

First Solar, Inc. (NASDAQ:FSLR) has been assigned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are currently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $281.13.

FSLR has been the topic of a number of recent analyst reports. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their target price for the company from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target for the company. BMO Capital Markets restated an “outperform” rating and issued a $260.00 target price (down previously from $286.00) on shares of First Solar in a research note on Wednesday. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price for the company in a research note on Thursday, August 1st. Finally, Hsbc Global Res upgraded shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th.

First Solar Price Performance

First Solar stock opened at $204.94 on Wednesday. The firm has a market cap of $21.94 billion, a PE ratio of 17.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.44. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average is $221.68 and its two-hundred day moving average is $223.93.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The firm had revenue of $887.70 million during the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the company posted $2.50 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts expect that First Solar will post 13.18 EPS for the current fiscal year.

Insider Activity

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now owns 3,468 shares in the company, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 10,885 shares of company stock worth $2,405,757. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AlphaMark Advisors LLC bought a new position in First Solar during the third quarter valued at approximately $25,000. Atlas Capital Advisors LLC raised its position in shares of First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the period. Summit Securities Group LLC bought a new position in shares of First Solar in the second quarter valued at approximately $36,000. Itau Unibanco Holding S.A. acquired a new stake in shares of First Solar in the second quarter worth $38,000. Finally, Alta Advisers Ltd acquired a new stake in shares of First Solar in the second quarter worth $45,000. Institutional investors own 92.08% of the company’s stock.

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.