First Solar (NASDAQ:FSLR) Given New $227.00 Price Target at Barclays

First Solar (NASDAQ:FSLR) had its target price increased by Barclays from $224.00 to $227.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

A number of other brokerages have also recently issued reports on FSLR. Royal Bank of Canada restated an outperform rating and issued a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. DZ Bank started coverage on shares of First Solar in a research note on Wednesday, April 17th. They set a buy rating and a $205.00 price target on the stock. Susquehanna reiterated a positive rating and issued a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Roth Mkm restated a buy rating and set a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Finally, Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They issued a buy rating and a $236.00 price target for the company. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Solar currently has a consensus rating of Moderate Buy and an average price target of $229.68.

First Solar Trading Up 0.7 %

NASDAQ FSLR opened at $176.28 on Friday. The business’s fifty day moving average is $161.72 and its 200-day moving average is $156.46. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. The stock has a market capitalization of $18.87 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 0.30 and a beta of 1.41. First Solar has a one year low of $129.21 and a one year high of $232.00.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, February 27th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the firm posted ($0.07) earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts predict that First Solar will post 13.55 EPS for the current year.

Insider Activity

In related news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction dated 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 owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The disclosure for this sale can be found here. Insiders sold 26,620 shares of company stock worth $4,269,540 over the last three months. 0.58% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank purchased a new position in shares of First Solar during the 4th quarter valued at $298,123,000. Clean Energy Transition LLP lifted its position in shares of First Solar by 948.8% in the third quarter. Clean Energy Transition LLP now owns 1,186,646 shares of the solar cell manufacturer’s stock valued at $191,750,000 after acquiring an additional 1,073,500 shares in the last quarter. Barclays PLC boosted its stake in shares of First Solar by 125.5% in the third quarter. Barclays PLC now owns 848,623 shares of the solar cell manufacturer’s stock worth $137,130,000 after acquiring an additional 472,327 shares during the period. Schroder Investment Management Group raised its stake in 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 valued at $422,861,000 after purchasing an additional 351,540 shares during the period. Finally, Covalis Capital LLP lifted its holdings in First Solar by 615.6% in the 3rd quarter. Covalis Capital LLP now owns 408,012 shares of the solar cell manufacturer’s stock worth $65,931,000 after purchasing an additional 350,996 shares in the last quarter. Hedge funds and other 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.