First Solar (NASDAQ:FSLR) PT Lowered to $307.00 at Robert W. Baird

First Solar (NASDAQ:FSLR) had its target price dropped by research analysts at Robert W. Baird from $344.00 to $307.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s target price suggests a potential upside of 37.85% from the stock’s previous close.

A number of other research firms have also recently issued reports on FSLR. Bank of America increased their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. The Goldman Sachs Group raised their price target on shares of First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, June 4th. Guggenheim dropped their price objective on shares of First Solar from $359.00 to $356.00 and set a “buy” rating on the stock in a report on Thursday, May 2nd. Roth Mkm restated a “buy” rating and issued a $320.00 target price (up from $230.00) on shares of First Solar in a research note on Friday, May 31st. Finally, Mizuho reiterated a “neutral” rating and issued a $274.00 price target (up previously from $209.00) on shares of First Solar in a report on Thursday, May 30th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $266.04.

First Solar Stock Down 1.2 %

First Solar stock opened at $222.71 on Tuesday. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. 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 50 day moving average price of $233.50 and a two-hundred day moving average price of $185.95. The firm has a market cap of $23.84 billion, a price-to-earnings ratio of 23.34, a PEG ratio of 0.30 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue was up 44.8% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. Equities analysts predict that First Solar will post 13.59 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, insider Georges Antoun sold 2,400 shares of the business’s 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 sale, the insider now directly owns 37,412 shares in the company, valued at $6,584,512. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction that occurred on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now owns 12,536 shares of the company’s stock, valued at $2,193,800. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the firm’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total transaction of $422,400.00. Following the completion of the transaction, the insider now directly owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 55,490 shares of company stock worth $13,301,803. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds have recently made changes to their positions in the stock. Envestnet Asset Management Inc. raised its holdings in shares of First Solar by 9.2% in the 3rd quarter. Envestnet Asset Management Inc. now owns 43,682 shares of the solar cell manufacturer’s stock valued at $7,058,000 after acquiring an additional 3,689 shares in the last quarter. Trexquant Investment LP purchased a new position in First Solar in the 3rd quarter worth approximately $884,000. Lazard Asset Management LLC raised its position in shares of First Solar by 51,022.7% during the 3rd quarter. Lazard Asset Management LLC now owns 38,342 shares of the solar cell manufacturer’s stock valued at $6,195,000 after buying an additional 38,267 shares in the last quarter. Advisors Asset Management Inc. grew its position in First Solar by 0.5% in the third quarter. Advisors Asset Management Inc. now owns 18,634 shares of the solar cell manufacturer’s stock worth $3,011,000 after acquiring an additional 85 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. increased its stake in First Solar by 7.3% in the third quarter. Adage Capital Partners GP L.L.C. now owns 106,200 shares of the solar cell manufacturer’s stock valued at $17,161,000 after acquiring an additional 7,200 shares during the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.