First Solar (NASDAQ:FSLR) Stock Rating Reaffirmed by Oppenheimer

First Solar (NASDAQ:FSLR)‘s stock had its “outperform” rating reissued by research analysts at Oppenheimer in a report released on Wednesday, Benzinga reports. They currently have a $269.00 target price on the solar cell manufacturer’s stock. Oppenheimer’s price target would indicate a potential upside of 50.67% from the stock’s current price.

A number of other research firms also recently commented on FSLR. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a report on Friday, April 5th. DZ Bank began coverage on First Solar in a report on Wednesday. They issued a “buy” rating and a $205.00 target price for the company. Janney Montgomery Scott began coverage on First Solar in a report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. Wells Fargo & Company downgraded First Solar from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $215.00 to $187.00 in a report on Monday, January 8th. Finally, Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $227.04.

First Solar Stock Performance

NASDAQ:FSLR traded up $5.45 during midday trading on Wednesday, reaching $178.53. The stock had a trading volume of 2,645,306 shares, compared to its average volume of 2,073,319. The firm has a fifty day simple moving average of $159.59 and a two-hundred day simple moving average of $155.77. First Solar has a 12-month low of $129.21 and a 12-month high of $232.00. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07. The stock has a market cap of $19.11 billion, a P/E ratio of 22.98, a P/E/G ratio of 0.30 and a beta of 1.41.

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

Insider Transactions at First Solar

In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now directly 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other First Solar news, CTO Markus Gloeckler sold 679 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total value of $108,640.00. Following the transaction, the chief technology officer now directly owns 14,473 shares of the company’s stock, valued at approximately $2,315,680. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. First Pacific Financial acquired a new stake in shares of First Solar during the 3rd quarter valued at approximately $27,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $27,000. Estabrook Capital Management acquired a new stake in shares of First Solar during the 3rd quarter valued at approximately $29,000. Baystate Wealth Management LLC acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $29,000. Finally, Headinvest LLC acquired a new stake in shares of First Solar during the 3rd quarter valued at approximately $30,000. 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.