Brokerages Set First Solar, Inc. (NASDAQ:FSLR) PT at $277.25

Shares of First Solar, Inc. (NASDAQ:FSLR) have been given an average recommendation of “Moderate Buy” by the twenty-five research firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $277.25.

A number of research analysts recently commented on FSLR shares. Mizuho reissued a “neutral” rating and issued a $274.00 price target (up from $209.00) on shares of First Solar in a report on Thursday, May 30th. Morgan Stanley upped their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an “overweight” rating in a research report on Tuesday, June 4th. DZ Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target on the stock in a research note on Thursday, August 1st. The Goldman Sachs Group increased their price objective on shares of First Solar from $268.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday, June 4th. Finally, BMO Capital Markets reduced their target price on First Solar from $311.00 to $286.00 and set an “outperform” rating on the stock in a report on Wednesday, July 31st.

First Solar Trading Down 1.6 %

First Solar stock opened at $235.95 on Tuesday. First Solar has a 12-month low of $129.21 and a 12-month high of $306.77. The firm has a market capitalization of $25.26 billion, a price-to-earnings ratio of 24.73, a P/E/G ratio of 0.35 and a beta of 1.44. The firm has a 50 day moving average of $220.93 and a 200 day moving average of $209.11. The company has a current ratio of 2.23, a quick ratio of 1.65 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the prior year, the company posted $1.85 earnings per share. The company’s revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, research analysts predict that First Solar will post 13.6 earnings per share for the current year.

Insider Buying and Selling at First Solar

In related news, insider Kuntal Kumar Verma sold 1,621 shares of the company’s stock in a transaction that occurred on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the transaction, the insider now directly owns 3,549 shares in the company, valued at $922,740. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $220.00, for a total transaction of $110,000.00. 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 First Solar stock in a transaction on Thursday, June 20th. The shares were sold at an average price of $260.00, for a total value of $421,460.00. Following the completion of the sale, the insider now directly owns 3,549 shares of the company’s stock, valued at $922,740. The disclosure for this sale can be found here. Insiders have sold 12,506 shares of company stock worth $2,827,217 in the last ninety days. 0.58% of the stock is owned by insiders.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dixon Mitchell Investment Counsel Inc. acquired a new position in First Solar during the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar in the fourth quarter worth approximately $27,000. Atlas Capital Advisors LLC increased its position in shares of First Solar by 411.1% in the 2nd 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 last quarter. Riverview Trust Co acquired a new stake in shares of First Solar in the 1st quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new stake in shares of First Solar during the 2nd quarter worth $36,000. Hedge funds and other 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.