First Solar (NASDAQ:FSLR) PT Lowered to $280.00

First Solar (NASDAQ:FSLR) had its price objective decreased by research analysts at Susquehanna from $285.00 to $280.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “positive” rating on the solar cell manufacturer’s stock. Susquehanna’s price objective points to a potential upside of 37.68% from the stock’s current price.

Several other equities analysts have also commented on FSLR. Janney Montgomery Scott lowered First Solar from a “buy” rating to a “neutral” rating in a research report on Tuesday, June 18th. Bank of America dropped their price objective on shares of First Solar from $343.00 to $321.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Jefferies Financial Group lowered their target price on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a report on Thursday, October 10th. Royal Bank of Canada restated an “outperform” rating and issued a $315.00 price target on shares of First Solar in a research note on Wednesday, July 31st. Finally, UBS Group lifted their price objective on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Solar currently has an average rating of “Moderate Buy” and a consensus target price of $283.64.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $203.37 on Wednesday. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77. The stock has a market capitalization of $21.77 billion, a P/E ratio of 21.32, a P/E/G ratio of 0.38 and a beta of 1.44. The company’s 50-day moving average is $227.19 and its 200 day moving average is $222.24. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.23 and a quick ratio of 1.65.

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 analysts’ consensus estimates of $2.69 by $0.56. The firm 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%. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 EPS. On average, sell-side analysts expect that First Solar will post 13.53 earnings per share for the current year.

Insider Buying and Selling at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the company’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 sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s 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 transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Byron Michael Jeffers sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were 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. Over the last 90 days, insiders have sold 10,885 shares of company stock valued at $2,405,757. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Hedge funds have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar in the first quarter worth about $25,000. AlphaMark Advisors LLC purchased a new position in First Solar during the third quarter valued at approximately $25,000. Atlas Capital Advisors LLC increased its stake 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 worth $31,000 after purchasing an additional 111 shares in the last quarter. Riverview Trust Co bought a new stake in shares of First Solar during the 1st quarter valued at $32,000. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at $36,000. 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.