Brokerages Set First Solar, Inc. (NASDAQ:FSLR) Target Price at $262.08

First Solar, Inc. (NASDAQ:FSLR) has received an average recommendation of “Moderate Buy” from the twenty-eight brokerages that are presently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $260.42.

A number of brokerages recently issued reports on FSLR. Bank of America decreased their price objective on shares of First Solar from $246.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, January 28th. Royal Bank of Canada lowered their price target on First Solar from $280.00 to $251.00 and set an “outperform” rating for the company in a report on Wednesday, February 26th. Robert W. Baird reduced their price objective on First Solar from $307.00 to $267.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. StockNews.com raised First Solar from a “sell” rating to a “hold” rating in a research note on Thursday, January 2nd. Finally, Wells Fargo & Company reduced their price target on shares of First Solar from $240.00 to $209.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 8th.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $129.82 on Friday. The business has a fifty day moving average price of $146.99 and a two-hundred day moving average price of $182.93. The stock has a market capitalization of $13.90 billion, a PE ratio of 11.18, a P/E/G ratio of 0.19 and a beta of 1.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a fifty-two week low of $120.60 and a fifty-two week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 EPS for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. As a group, equities analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares in the company, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Georges Antoun sold 229 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total transaction of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,311 shares of company stock worth $4,767,158 in the last quarter. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the company. Larson Financial Group LLC increased its stake in First Solar by 214.0% during the 3rd quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after purchasing an additional 107 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of First Solar by 31.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock worth $47,000 after acquiring an additional 63 shares during the last quarter. Crews Bank & Trust bought a new position in First Solar in the 4th quarter valued at about $53,000. Hudson Edge Investment Partners Inc. acquired a new position in First Solar during the 4th quarter valued at about $53,000. Finally, Banque Transatlantique SA bought a new stake in First Solar during the 4th quarter worth approximately $53,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.