Brokerages Set First Solar, Inc. (NASDAQ:FSLR) PT at $227.96

First Solar, Inc. (NASDAQ:FSLR) has received a consensus rating of “Moderate Buy” from the twenty-three analysts that are covering the stock, Marketbeat Ratings reports. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating on the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $227.04.

Several equities analysts have recently commented on the stock. Susquehanna reaffirmed a “positive” rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Wells Fargo & Company cut First Solar from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $215.00 to $187.00 in a report on Monday, January 8th. DZ Bank initiated coverage on First Solar in a research note on Wednesday. They set a “buy” rating and a $205.00 target price on the stock. Janney Montgomery Scott assumed coverage on First Solar in a report on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $195.00 price target on shares of First Solar in a report on Wednesday, February 28th.

First Solar Price Performance

FSLR stock opened at $178.01 on Friday. The firm has a market cap of $19.05 billion, a P/E ratio of 23.00, a P/E/G ratio of 0.30 and a beta of 1.41. The firm’s fifty day moving average is $160.24 and its 200 day moving average is $155.92. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00. The company has a debt-to-equity ratio of 0.07, a quick ratio of 2.92 and a current ratio of 3.55.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The firm had revenue of $1.16 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business’s quarterly revenue was up 15.5% compared to the same quarter last year. Research analysts predict that First Solar will post 13.55 earnings per share for the current year.

Insider Activity

In related news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at approximately $6,584,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 in the last ninety days. 0.58% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in First Solar by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock valued at $2,093,515,000 after purchasing an additional 111,786 shares during the period. State Street Corp raised its stake in First Solar by 4.4% during the 1st quarter. State Street Corp now owns 4,266,552 shares of the solar cell manufacturer’s stock worth $927,972,000 after acquiring an additional 179,035 shares during the period. Schroder Investment Management Group lifted its holdings in First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of First Solar by 10.2% in the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer’s stock worth $369,024,000 after purchasing an additional 211,755 shares during the period. Finally, Geode Capital Management LLC increased its stake in shares of First Solar by 2.6% in the first quarter. Geode Capital Management LLC now owns 2,236,723 shares of the solar cell manufacturer’s stock worth $485,528,000 after purchasing an additional 56,383 shares in the last quarter. 92.08% of the stock is owned by institutional investors.

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.