First Solar (NASDAQ:FSLR) Upgraded to “Overweight” at Wells Fargo & Company

First Solar (NASDAQ:FSLR) was upgraded by investment analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report issued on Friday, MarketBeat reports. The firm presently has a $250.00 target price on the solar cell manufacturer’s stock, up from their previous target price of $187.00. Wells Fargo & Company‘s price target points to a potential upside of 43.44% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. Mizuho boosted their target price on First Solar from $188.00 to $196.00 and gave the company a “buy” rating in a research note on Wednesday, January 3rd. DZ Bank started coverage on First Solar in a research note on Wednesday. They issued a “buy” rating and a $205.00 target price for the company. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. Bank of America boosted their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Finally, Roth Mkm reissued a “buy” rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average target price of $229.56.

First Solar Trading Down 2.1 %

Shares of FSLR stock opened at $174.29 on Friday. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average price of $160.86 and a two-hundred day moving average price of $156.05. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. The firm has a market cap of $18.66 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 0.31 and a beta of 1.41.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate 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 previous year, the company posted ($0.07) earnings per share. The company’s revenue was up 15.5% compared to the same quarter last year. Equities analysts anticipate that First Solar will post 13.55 EPS for the current fiscal year.

Insider Activity at First Solar

In related news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Georges Antoun sold 16,667 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares of the company’s stock, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Hedge funds and other institutional investors have recently modified their holdings of the company. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the 4th quarter worth $27,000. Baystate Wealth Management LLC bought a new position in First Solar in the 4th quarter worth $29,000. First Pacific Financial bought a new position in First Solar in the 3rd quarter worth $27,000. Finally, Estabrook Capital Management bought a new position in First Solar in the 3rd quarter worth $29,000. 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.