UBS Group Boosts First Solar (NASDAQ:FSLR) Price Target to $350.00

First Solar (NASDAQ:FSLRGet Free Report) had its price objective increased by analysts at UBS Group from $270.00 to $350.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. UBS Group’s price target would suggest a potential upside of 26.52% from the stock’s current price.

Other equities research analysts have also issued research reports about the company. Morgan Stanley lifted their price objective on First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. DZ Bank lowered First Solar from a “buy” rating to a “hold” rating and set a $270.00 price target on the stock. in a research note on Wednesday. Janney Montgomery Scott began coverage on First Solar in a research note on Friday, April 12th. They set a “buy” rating and a $236.00 price target on the stock. Barclays boosted their price target on First Solar from $227.00 to $228.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 15th. Finally, Susquehanna reissued a “positive” rating and set a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $244.96.

Get Our Latest Stock Report on First Solar

First Solar Stock Performance

FSLR traded down $3.53 during trading on Wednesday, reaching $276.63. The company’s stock had a trading volume of 756,247 shares, compared to its average volume of 2,295,597. First Solar has a 52-week low of $129.21 and a 52-week high of $283.63. The company’s fifty day moving average price is $187.54 and its 200-day moving average price is $166.73. The company has a market capitalization of $29.61 billion, a price-to-earnings ratio of 29.14, a price-to-earnings-growth ratio of 0.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41.

First Solar (NASDAQ:FSLRGet Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm’s revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities analysts forecast that First Solar will post 13.56 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares in the company, valued at approximately $6,539,477.55. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Richard D. Chapman sold 7,264 shares of the stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $248.95, for a total value of $1,808,372.80. Following the completion of the sale, the director now owns 10,440 shares of the company’s stock, valued at $2,599,038. The disclosure for this sale can be found here. Insiders sold a total of 51,455 shares of company stock worth $9,617,472 in the last ninety days. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Cetera Advisors LLC lifted its position in shares of First Solar by 100.3% during the first quarter. Cetera Advisors LLC now owns 5,497 shares of the solar cell manufacturer’s stock worth $928,000 after purchasing an additional 2,753 shares during the last quarter. Cetera Investment Advisers lifted its position in shares of First Solar by 1,400.4% during the first quarter. Cetera Investment Advisers now owns 23,991 shares of the solar cell manufacturer’s stock worth $4,050,000 after purchasing an additional 22,392 shares during the last quarter. Swedbank AB acquired a new stake in First Solar during the first quarter worth about $21,815,000. Wahed Invest LLC raised its stake in First Solar by 16.1% during the first quarter. Wahed Invest LLC now owns 2,103 shares of the solar cell manufacturer’s stock worth $355,000 after acquiring an additional 292 shares during the period. Finally, iA Global Asset Management Inc. raised its stake in First Solar by 175.6% during the first quarter. iA Global Asset Management Inc. now owns 5,685 shares of the solar cell manufacturer’s stock worth $960,000 after acquiring an additional 3,622 shares during the period. 92.08% of the stock is owned by hedge funds and other institutional investors.

About First Solar

(Get Free Report)

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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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