Credit Suisse Group Boosts First Solar (NASDAQ:FSLR) Price Target to $163.00

First Solar (NASDAQ:FSLR – Get Rating) had its target price lifted by Credit Suisse Group from $152.00 to $163.00 in a research note released on Wednesday, The Fly reports. They currently have a neutral rating on the solar cell manufacturer’s stock.

A number of other analysts have also issued reports on the stock. Robert W. Baird lifted their price objective on shares of First Solar from $180.00 to $208.00 and gave the company an outperform rating in a research note on Wednesday, March 1st. Evercore ISI lowered shares of First Solar from an outperform rating to an in-line rating and dropped their price objective for the company from $157.00 to $150.00 in a research note on Wednesday, March 1st. The Goldman Sachs Group lifted their price objective on shares of First Solar from $231.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, March 1st. Argus lifted their price objective on shares of First Solar from $176.00 to $261.00 in a research note on Tuesday, March 14th. Finally, Guggenheim lifted their price objective on shares of First Solar from $255.00 to $260.00 in a research note on Wednesday, March 1st. Eight analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $201.00.

First Solar Trading Down 3.4 %

Shares of FSLR stock opened at $199.62 on Wednesday. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of -475.27 and a beta of 1.36. The company has a quick ratio of 3.05, a current ratio of 3.65 and a debt-to-equity ratio of 0.03. First Solar has a fifty-two week low of $59.60 and a fifty-two week high of $218.25. The firm’s 50 day moving average price is $179.25 and its two-hundred day moving average price is $156.52.

First Solar (NASDAQ:FSLR – Get Rating) last announced its quarterly earnings results on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.11. The firm had revenue of $1 billion for the quarter, compared to analysts’ expectations of $1 billion. First Solar had a negative net margin of 1.69% and a negative return on equity of 0.75%. First Solar’s revenue was up 10.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.23 earnings per share. On average, analysts anticipate that First Solar will post 7.2 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, General Counsel Jason E. Dymbort sold 1,610 shares of the firm’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $200.21, for a total value of $322,338.10. Following the transaction, the general counsel now owns 5,039 shares of the company’s stock, valued at $1,008,858.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, General Counsel Jason E. Dymbort sold 1,610 shares of First Solar stock in a transaction that occurred on Friday, March 3rd. The stock was sold at an average price of $200.21, for a total transaction of $322,338.10. Following the sale, the general counsel now owns 5,039 shares of the company’s stock, valued at $1,008,858.19. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard D. Chapman sold 7,500 shares of First Solar stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $211.00, for a total value of $1,582,500.00. Following the sale, the director now directly owns 21,689 shares in the company, valued at approximately $4,576,379. The disclosure for this sale can be found here. Insiders have sold 37,909 shares of company stock valued at $7,870,618 over the last quarter. Insiders own 0.54% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in FSLR. Riverview Trust Co bought a new stake in shares of First Solar during the third quarter valued at approximately $25,000. TCI Wealth Advisors Inc. increased its stake in shares of First Solar by 370.7% during the third quarter. TCI Wealth Advisors Inc. now owns 193 shares of the solar cell manufacturer’s stock valued at $26,000 after acquiring an additional 152 shares during the period. Glass Jacobson Investment Advisors llc acquired a new position in shares of First Solar during the fourth quarter valued at approximately $30,000. SeaCrest Wealth Management LLC acquired a new position in shares of First Solar during the second quarter valued at approximately $32,000. Finally, First Horizon Advisors Inc. increased its stake in shares of First Solar by 214.5% during the third quarter. First Horizon Advisors Inc. now owns 261 shares of the solar cell manufacturer’s stock valued at $33,000 after acquiring an additional 178 shares during the period. Institutional investors own 80.97% of the company’s stock.

First Solar Company Profile

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First Solar, Inc is a solar technology company, which engages in the provision of solar modules. It is involved in the design, manufacture, and sale of cadmium tellurid (CdTe) solar modules, which convert sunlight into electricity. The company was founded by Michael J. Ahearn in 1999 and is headquartered in Tempe, AZ.