Bank of America Raises First Solar (NASDAQ:FSLR) Price Target to $201.00

First Solar (NASDAQ:FSLR - Get Free Report) had its price target hoisted by research analysts at Bank of America from $185.00 to $201.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the solar cell manufacturer's stock. Bank of America's price objective would suggest a potential upside of 11.81% from the stock's current price.

A number of other research analysts have also recently issued reports on the stock. TD Cowen decreased their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Susquehanna boosted their target price on shares of First Solar from $186.00 to $203.00 and gave the stock a "positive" rating in a research note on Monday. Jefferies Financial Group set a $194.00 target price on shares of First Solar and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Royal Bank Of Canada boosted their target price on shares of First Solar from $188.00 to $200.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Finally, BMO Capital Markets lowered their price objective on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, First Solar has a consensus rating of "Moderate Buy" and an average price target of $225.73.

First Solar Price Performance

Shares of NASDAQ FSLR traded down $0.22 during midday trading on Tuesday, reaching $179.77. The company's stock had a trading volume of 1,892,475 shares, compared to its average volume of 3,252,144. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.39 and a current ratio of 1.93. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $262.72. The business's 50 day moving average price is $164.19 and its two-hundred day moving average price is $153.63. The company has a market cap of $19.28 billion, a P/E ratio of 15.29, a P/E/G ratio of 0.35 and a beta of 1.52.

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

Insider Transactions at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the sale, the insider owned 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the sale, the insider owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,976 shares of company stock valued at $2,515,172 in the last 90 days. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently made changes to their positions in the business. TD Private Client Wealth LLC raised its holdings in shares of First Solar by 126.9% in the 2nd quarter. TD Private Client Wealth LLC now owns 152 shares of the solar cell manufacturer's stock worth $25,000 after acquiring an additional 85 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Garde Capital Inc. bought a new position in First Solar during the 1st quarter valued at $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar during the 1st quarter valued at $25,000. Finally, First Pacific Financial bought a new position in First Solar during the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 92.08% of the company's stock.

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.