Oppenheimer Raises First Solar (NASDAQ:FSLR) Price Target to $326.00

First Solar (NASDAQ:FSLR) had its target price upped by Oppenheimer from $325.00 to $326.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Oppenheimer’s price objective points to a potential upside of 49.62% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Jefferies Financial Group upped their price target on First Solar from $209.50 to $211.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Wells Fargo & Company upgraded First Solar from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $187.00 to $250.00 in a research report on Friday, April 19th. DZ Bank cut First Solar from a “buy” rating to a “hold” rating and set a $270.00 target price on the stock. in a report on Wednesday, May 29th. Susquehanna upped their price target on First Solar from $258.00 to $285.00 and gave the company a “positive” rating in a research report on Wednesday, July 3rd. Finally, Mizuho reissued a “neutral” rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research note on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $273.21.

First Solar Trading Up 3.3 %

First Solar stock opened at $217.89 on Wednesday. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77. The stock has a 50-day moving average price of $247.69 and a 200 day moving average price of $193.88. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $23.32 billion, a price-to-earnings ratio of 22.84, a price-to-earnings-growth ratio of 0.29 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly 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. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $939.71 million. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. Sell-side analysts anticipate that First Solar will post 13.58 EPS for the current year.

Insider Activity

In other news, Director R Craig Kennedy sold 2,000 shares of First Solar stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total transaction of $393,460.00. Following the completion of the transaction, the director now owns 13,908 shares of the company’s stock, valued at approximately $2,736,120.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director R Craig Kennedy sold 2,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the transaction, the director now directly owns 13,908 shares of the company’s stock, valued at $2,736,120.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the company’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now owns 1,045 shares in the company, valued at $199,051.60. The disclosure for this sale can be found here. Insiders sold 51,153 shares of company stock worth $12,540,428 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Norges Bank acquired a new stake in shares of First Solar during the 4th quarter worth $298,123,000. Schroder Investment Management Group grew its holdings in shares of First Solar by 16.7% during the 4th quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock worth $422,861,000 after purchasing an additional 351,540 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in First Solar by 11.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich increased its position in First Solar by 2,009.8% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 180,681 shares of the solar cell manufacturer’s stock worth $31,128,000 after purchasing an additional 172,117 shares in the last quarter. Finally, Bull Oak Capital LLC raised its holdings in First Solar by 304,592.2% in the fourth quarter. Bull Oak Capital LLC now owns 155,393 shares of the solar cell manufacturer’s stock valued at $26,771,000 after buying an additional 155,342 shares during the period. 92.08% of the stock is currently owned by hedge funds and other 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.