First Solar (NASDAQ:FSLR) Price Target Lowered to $200.00 at TD Cowen

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective decreased by equities research analysts at TD Cowen from $275.00 to $200.00 in a research report issued on Wednesday, Marketbeat.com reports. The brokerage presently has a "buy" rating on the solar cell manufacturer's stock. TD Cowen's target price indicates a potential upside of 53.21% from the stock's current price.

A number of other equities analysts have also recently commented on the company. BMO Capital Markets restated an "outperform" rating and set a $230.00 target price (down from $260.00) on shares of First Solar in a report on Wednesday, February 26th. Seaport Res Ptn raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. StockNews.com raised shares of First Solar from a "sell" rating to a "hold" rating in a research note on Thursday, January 2nd. Redburn Atlantic initiated coverage on shares of First Solar in a research report on Monday, March 3rd. They issued a "neutral" rating for the company. Finally, Truist Financial reaffirmed a "buy" rating and set a $245.00 price objective (down previously from $285.00) on shares of First Solar in a research report on Wednesday, April 2nd. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, First Solar currently has a consensus rating of "Moderate Buy" and an average price target of $223.87.

First Solar Trading Up 3.1 %

FSLR stock traded up $3.97 during mid-day trading on Wednesday, hitting $130.54. 3,393,776 shares of the company were exchanged, compared to its average volume of 2,857,722. The business has a fifty day simple moving average of $131.03 and a 200-day simple moving average of $166.38. The firm has a market capitalization of $14.00 billion, a P/E ratio of 11.24, a PEG ratio of 0.19 and a beta of 1.48. First Solar has a 12-month low of $116.56 and a 12-month high of $306.77. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter last year, the business posted $2.20 EPS. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities research analysts predict that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Mark R. Widmar sold 21,542 shares of the company's stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $141.09, for a total value of $3,039,360.78. Following the completion of the sale, the chief executive officer now directly owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the transaction, the insider now directly owns 52,836 shares in the company, valued at approximately $7,066,815. This represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. 0.48% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently modified their holdings of the stock. Saturna Capital Corp increased its stake in First Solar by 15.3% in the 1st quarter. Saturna Capital Corp now owns 6,113 shares of the solar cell manufacturer's stock valued at $773,000 after buying an additional 809 shares during the period. Forum Financial Management LP boosted its holdings in shares of First Solar by 4.4% in the first quarter. Forum Financial Management LP now owns 3,255 shares of the solar cell manufacturer's stock valued at $412,000 after acquiring an additional 136 shares in the last quarter. Litman Gregory Wealth Management LLC acquired a new position in shares of First Solar during the first quarter worth about $243,000. Trust Investment Advisors raised its holdings in First Solar by 3.5% during the first quarter. Trust Investment Advisors now owns 3,896 shares of the solar cell manufacturer's stock worth $493,000 after purchasing an additional 133 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in First Solar by 7.0% in the first quarter. Victory Capital Management Inc. now owns 38,762 shares of the solar cell manufacturer's stock valued at $4,901,000 after purchasing an additional 2,519 shares during the period. Hedge funds and other institutional investors 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.