First Solar (NASDAQ:FSLR) PT Lowered to $266.00 at Jefferies Financial Group

First Solar (NASDAQ:FSLR) had its price objective reduced by Jefferies Financial Group from $271.00 to $266.00 in a report released on Thursday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Several other equities research analysts also recently issued reports on FSLR. William Blair started coverage on shares of First Solar in a research report on Thursday, August 29th. They set a market perform rating for the company. Clarkson Capital assumed coverage on First Solar in a research note on Wednesday, August 14th. They issued a buy rating and a $270.00 price target on the stock. 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. DZ Bank upgraded First Solar from a hold rating to a buy rating and set a $280.00 price objective for the company in a report on Thursday, August 1st. Finally, Piper Sandler boosted their target price on First Solar from $219.00 to $250.00 and gave the company an overweight rating in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $285.44.

First Solar Trading Up 3.1 %

Shares of NASDAQ FSLR opened at $211.49 on Thursday. First Solar has a twelve month low of $129.21 and a twelve month high of $306.77. The stock has a market cap of $22.64 billion, a price-to-earnings ratio of 22.17, a P/E/G ratio of 0.38 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $227.56 and its 200-day moving average is $221.97.

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, topping the consensus estimate of $2.69 by $0.56. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.85 earnings per share. Equities research analysts predict that First Solar will post 13.53 EPS for the current year.

Insider Transactions at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the sale, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Patrick James Buehler sold 8,619 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was 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. 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 1,766 shares of First Solar 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 of the company’s stock, valued at approximately $108,250. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 10,885 shares of company stock worth $2,405,757. 0.58% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in FSLR. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of First Solar by 6.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of First Solar by 20.3% during 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 during the period. Legend Financial Advisors Inc. acquired a new stake in shares of First Solar in the first quarter valued at approximately $759,000. Burford Brothers Inc. bought a new stake in shares of First Solar in the fourth quarter valued at approximately $3,539,000. Finally, Vanguard Group Inc. boosted its stake in shares of First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after buying an additional 105,236 shares during the period. 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.