First Solar (NASDAQ:FSLR) Price Target Lowered to $335.00 at Guggenheim

First Solar (NASDAQ:FSLR) had its price objective dropped by research analysts at Guggenheim from $368.00 to $335.00 in a report released on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Guggenheim’s price target indicates a potential upside of 72.25% from the stock’s previous close.

Several other analysts have also recently issued reports on the stock. Clarkson Capital initiated coverage on shares of First Solar in a research note on Wednesday, August 14th. They set a “buy” rating and a $270.00 price objective for the company. William Blair initiated coverage on shares of First Solar in a report on Thursday, August 29th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. lifted their target price on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. The Goldman Sachs Group reduced their target price on shares of First Solar from $311.00 to $279.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, BMO Capital Markets restated an “outperform” rating and set a $260.00 target price (down previously from $286.00) on shares of First Solar in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $281.13.

First Solar Stock Down 1.5 %

Shares of NASDAQ FSLR opened at $194.48 on Wednesday. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The firm has a fifty day moving average of $222.68 and a 200-day moving average of $223.93. The stock has a market capitalization of $20.82 billion, a PE ratio of 16.75, a P/E/G ratio of 0.34 and a beta of 1.44. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Tuesday, October 29th. The solar cell manufacturer reported $2.91 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.19). First Solar had a net margin of 31.98% and a return on equity of 17.73%. The company had revenue of $887.70 million for the quarter, compared to analysts’ expectations of $1.07 billion. During the same period in the prior year, the firm earned $2.50 earnings per share. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. On average, analysts anticipate that First Solar will post 13.39 EPS for the current year.

Insider Transactions at First Solar

In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the sale, the insider now owns 3,468 shares of the company’s stock, valued at $769,896. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Byron Michael Jeffers sold 500 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $220.00, for a total transaction of $110,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 10,885 shares of company stock valued at $2,405,757. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of First Solar by 0.9% during the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock valued at $2,068,991,000 after buying an additional 105,236 shares during the last quarter. Electron Capital Partners LLC grew its position in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock worth $1,729,223,000 after purchasing an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after purchasing an additional 279,719 shares during the last quarter. Dimensional Fund Advisors LP grew its position in First Solar by 8.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 795,393 shares of the solar cell manufacturer’s stock worth $179,478,000 after purchasing an additional 64,265 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in First Solar by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 652,354 shares of the solar cell manufacturer’s stock worth $147,080,000 after purchasing an additional 2,378 shares during the last quarter. Institutional investors own 92.08% of the company’s stock.

About First Solar

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.