Analysts Set First Solar, Inc. (NASDAQ:FSLR) Target Price at $229.19

Shares of First Solar, Inc. (NASDAQ:FSLR - Get Free Report) have received a consensus rating of "Moderate Buy" from the thirty-two ratings firms that are currently covering the company, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-five have given a buy rating and two have assigned a strong buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $229.19.

A number of research firms have recently commented on FSLR. KeyCorp lowered First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. Roth Mkm restated a "buy" rating and set a $280.00 target price on shares of First Solar in a report on Wednesday, February 26th. The Goldman Sachs Group boosted their target price on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Piper Sandler dropped their target price on First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Bank of America lowered their price objective on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th.

First Solar Price Performance

Shares of First Solar stock traded down $0.03 during midday trading on Thursday, reaching $167.83. The company had a trading volume of 2,119,950 shares, compared to its average volume of 3,058,216. The company has a market capitalization of $18.00 billion, a price-to-earnings ratio of 14.46, a price-to-earnings-growth ratio of 0.19 and a beta of 1.53. First Solar has a 1-year low of $116.56 and a 1-year high of $306.77. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The stock has a fifty day simple moving average of $145.92 and a 200 day simple moving average of $159.22.

First Solar (NASDAQ:FSLR - Get Free Report) last announced 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). The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business's revenue was up 6.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.20 earnings per share. As a group, equities research analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Insider Activity at First Solar

In related news, insider Patrick James Buehler sold 1,868 shares of the firm'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 sale, the insider now directly owns 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Alexander R. Bradley sold 599 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $80,116.25. Following the completion of the sale, the chief financial officer now directly owns 45,717 shares of the company's stock, valued at $6,114,648.75. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,948 shares of company stock valued at $2,704,927 over the last three months. 0.48% of the stock is owned by corporate insiders.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently modified their holdings of the business. Garde Capital Inc. purchased a new position in shares of First Solar during the 1st quarter valued at approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in First Solar during the 1st quarter worth $25,000. Colonial Trust Advisors bought a new stake in shares of First Solar in the 1st quarter worth about $32,000. Larson Financial Group LLC raised its stake in shares of First Solar by 591.9% in the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after purchasing an additional 219 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock worth $47,000 after purchasing an additional 63 shares during the last quarter. 92.08% of the stock is owned by hedge funds and other institutional investors.

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.