First Solar (NASDAQ:FSLR) Price Target Raised to $280.00

First Solar (NASDAQ:FSLR) had its price objective raised by Deutsche Bank Aktiengesellschaft from $215.00 to $280.00 in a research report released on Friday, MarketBeat reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

A number of other brokerages have also commented on FSLR. Bank of America increased their price objective on First Solar from $187.00 to $194.00 and gave the company a buy rating in a report on Wednesday, April 10th. Robert W. Baird raised their target price on First Solar from $246.00 to $344.00 and gave the company an outperform rating in a report on Tuesday, June 11th. Evercore ISI raised First Solar from an in-line rating to an outperform rating and set a $227.00 target price on the stock in a report on Tuesday, April 23rd. Roth Mkm reaffirmed a buy rating and issued a $320.00 target price (up previously from $230.00) on shares of First Solar in a report on Friday, May 31st. Finally, Morgan Stanley raised their target price on First Solar from $248.00 to $331.00 and gave the company an overweight rating in a report on Tuesday, June 4th. Five research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of Moderate Buy and an average price target of $267.52.

First Solar Stock Performance

Shares of NASDAQ FSLR opened at $222.71 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 23.34, a P/E/G ratio of 0.30 and a beta of 1.44. The business’s 50-day simple moving average is $233.50 and its 200-day simple moving average is $185.95. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 EPS. As a group, equities research analysts expect that First Solar will post 13.59 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Alexander R. Bradley sold 16,051 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was sold at an average price of $274.69, for a total transaction of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares in the company, valued at approximately $8,419,797.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other First Solar news, insider Georges Antoun sold 2,400 shares of First Solar stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Alexander R. Bradley sold 16,051 shares of First Solar stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $274.69, for a total value of $4,409,049.19. Following the completion of the transaction, the chief financial officer now owns 30,652 shares of the company’s stock, valued at approximately $8,419,797.88. The disclosure for this sale can be found here. Insiders sold 55,490 shares of company stock worth $13,301,803 in the last 90 days. 0.58% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Several institutional investors have recently bought and sold shares of the business. Cambridge Trust Co. raised its position in shares of First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares during the last quarter. Great Diamond Partners LLC raised its position in shares of First Solar by 3.8% during the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after acquiring an additional 53 shares during the last quarter. Family Legacy Inc. raised its position in shares of First Solar by 1.4% during the first quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after acquiring an additional 69 shares during the last quarter. Harbor Investment Advisory LLC raised its position in shares of First Solar by 36.0% during the first quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after acquiring an additional 72 shares during the last quarter. Finally, Atticus Wealth Management LLC raised its position in shares of First Solar by 15.6% during the first quarter. Atticus Wealth Management LLC now owns 534 shares of the solar cell manufacturer’s stock worth $90,000 after acquiring an additional 72 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.