First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Bank of America Analyst Says

First Solar (NASDAQ:FSLR - Get Free Report) had its price target increased by research analysts at Bank of America from $185.00 to $201.00 in a research note issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the solar cell manufacturer's stock. Bank of America's price target would suggest a potential upside of 11.22% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the company. Glj Research raised First Solar from a "hold" rating to a "buy" rating and set a $172.37 price target for the company in a research note on Thursday, May 1st. Oppenheimer cut First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Barclays decreased their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. UBS Group reissued a "positive" rating on shares of First Solar in a research note on Tuesday, July 8th. Finally, Morgan Stanley set a $223.00 price target on First Solar and gave the company an "overweight" rating in a research note on Wednesday, April 23rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and a consensus price target of $225.73.

First Solar Price Performance

FSLR traded up $0.95 on Tuesday, reaching $180.72. The stock had a trading volume of 2,046,568 shares, compared to its average volume of 3,712,773. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The firm has a 50-day moving average of $163.81 and a 200-day moving average of $153.74. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $19.38 billion, a price-to-earnings ratio of 15.37, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same period in the previous year, the company earned $2.20 EPS. First Solar's revenue for the quarter was up 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insiders Place Their Bets

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares of the company's stock, valued at $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the transaction, the chief technology officer owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 15,976 shares of company stock valued at $2,515,172 over the last ninety days. 0.48% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Raymond James Financial Inc. bought a new stake in First Solar during the fourth quarter valued at $4,933,000. Thrivent Financial for Lutherans boosted its stake in First Solar by 27.0% during the fourth quarter. Thrivent Financial for Lutherans now owns 5,572 shares of the solar cell manufacturer's stock valued at $982,000 after buying an additional 1,185 shares during the period. Mizuho Securities USA LLC boosted its stake in First Solar by 46.2% during the fourth quarter. Mizuho Securities USA LLC now owns 10,147 shares of the solar cell manufacturer's stock valued at $1,788,000 after buying an additional 3,206 shares during the period. Sei Investments Co. boosted its stake in First Solar by 67.6% during the fourth quarter. Sei Investments Co. now owns 27,035 shares of the solar cell manufacturer's stock valued at $4,764,000 after buying an additional 10,906 shares during the period. Finally, LPL Financial LLC boosted its stake in First Solar by 17.9% during the fourth quarter. LPL Financial LLC now owns 53,675 shares of the solar cell manufacturer's stock valued at $9,460,000 after buying an additional 8,167 shares during the period. 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.