First Solar (NASDAQ:FSLR) Given New $278.00 Price Target at Evercore ISI

First Solar (NASDAQ:FSLR) had its price objective lowered by analysts at Evercore ISI from $281.00 to $278.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Evercore ISI’s target price would indicate a potential upside of 42.95% from the stock’s current price.

FSLR has been the topic of several other research reports. Roth Mkm cut their target price on First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a research note on Tuesday, October 15th. Jefferies Financial Group reduced their price objective 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. UBS Group raised their target price on shares of First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. JPMorgan Chase & Co. upped their price target on shares of First Solar from $262.00 to $282.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 price objective on shares of First Solar in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $281.13.

First Solar Stock Performance

FSLR stock opened at $194.48 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 $20.82 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 0.34 and a beta of 1.44. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The stock’s fifty day moving average is $222.68 and its two-hundred day moving average is $223.93.

First Solar (NASDAQ:FSLR) last posted its earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the firm earned $2.50 earnings per share. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, research analysts predict that First Solar will post 13.39 EPS for the current year.

Insider Activity

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction that occurred on 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 transaction, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total value of $110,000.00. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock worth $2,405,757 over the last 90 days. 0.58% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Institutional investors have recently modified their holdings of the stock. Western Financial Corp CA acquired a new stake in shares of First Solar during the 3rd quarter valued at about $1,209,000. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in First Solar by 6.3% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in First Solar by 20.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 121,055 shares of the solar cell manufacturer’s stock worth $20,434,000 after acquiring an additional 20,465 shares in the last quarter. Harbour Capital Advisors LLC increased its stake in shares of First Solar by 224.0% during the 3rd quarter. Harbour Capital Advisors LLC now owns 5,217 shares of the solar cell manufacturer’s stock worth $1,301,000 after purchasing an additional 3,607 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after purchasing an additional 105,236 shares in the last quarter. Institutional investors and hedge funds 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.