First Solar (NASDAQ:FSLR) PT Raised to $240.00

First Solar (NASDAQ:FSLR) had its price target raised by JPMorgan Chase & Co. from $237.00 to $240.00 in a research note issued to investors on Thursday, Benzinga reports. The brokerage currently has an overweight rating on the solar cell manufacturer’s stock.

Other equities analysts also recently issued research reports about the stock. DZ Bank assumed coverage on shares of First Solar in a report on Wednesday, April 17th. They issued a buy rating and a $205.00 target price on the stock. Morgan Stanley boosted their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a research note on Thursday. Barclays raised their price objective on First Solar from $224.00 to $227.00 and gave the company an overweight rating in a research report on Friday, April 19th. Jefferies Financial Group boosted their target price on First Solar from $209.50 to $211.00 and gave the stock a buy rating in a research report on Thursday. Finally, Royal Bank of Canada reissued an outperform rating and set a $195.00 price target on shares of First Solar in a research note on Wednesday, February 28th. Three equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, First Solar has an average rating of Moderate Buy and a consensus price target of $238.16.

First Solar Price Performance

NASDAQ:FSLR traded up $11.04 on Thursday, reaching $191.55. 3,008,268 shares of the company’s stock traded hands, compared to its average volume of 2,074,836. The firm has a market cap of $20.50 billion, a PE ratio of 20.08, a P/E/G ratio of 0.31 and a beta of 1.37. The company has a quick ratio of 2.92, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The stock has a 50-day simple moving average of $166.57 and a 200-day simple moving average of $158.28. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00.

First Solar (NASDAQ:FSLR) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same quarter last year, the company earned $0.40 EPS. The firm’s quarterly revenue was up 44.8% on a year-over-year basis. Equities research analysts forecast that First Solar will post 13.55 earnings per share for the current year.

Insider Activity at First Solar

In other news, insider Kuntal Kumar Verma sold 250 shares of the firm’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 transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total value of $37,085.00. Following the completion of the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 in the last 90 days. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of First Solar by 4.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 548,058 shares of the solar cell manufacturer’s stock worth $94,419,000 after acquiring an additional 20,946 shares in the last quarter. Assenagon Asset Management S.A. lifted its position in shares of First Solar by 504.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 399,650 shares of the solar cell manufacturer’s stock valued at $68,852,000 after buying an additional 333,496 shares during the last quarter. Sora Investors LLC boosted its holdings in shares of First Solar by 63.6% in the 3rd quarter. Sora Investors LLC now owns 90,000 shares of the solar cell manufacturer’s stock valued at $14,543,000 after buying an additional 35,000 shares in the last quarter. Vanguard Group Inc. grew its position in shares of First Solar by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,040,031 shares of the solar cell manufacturer’s stock worth $1,945,549,000 after buying an additional 279,424 shares during the last quarter. Finally, Bull Oak Capital LLC grew its position in shares of First Solar by 304,592.2% in the 4th quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock worth $26,771,000 after buying an additional 155,342 shares during the last quarter. 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.