First Solar (NASDAQ:FSLR) Given New $235.00 Price Target at UBS Group

First Solar (NASDAQ:FSLR - Get Free Report) had its target price reduced by investment analysts at UBS Group from $240.00 to $235.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a "buy" rating on the solar cell manufacturer's stock. UBS Group's price objective would suggest a potential upside of 90.66% from the company's previous close.

FSLR has been the topic of a number of other reports. Barclays reduced their target price on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Guggenheim cut their price objective on shares of First Solar from $304.00 to $253.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Seaport Res Ptn upgraded First Solar from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, January 15th. Wells Fargo & Company dropped their target price on First Solar from $240.00 to $209.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Finally, Redburn Atlantic initiated coverage on First Solar in a report on Monday, March 3rd. They issued a "neutral" rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, First Solar has a consensus rating of "Moderate Buy" and an average target price of $240.42.

First Solar Trading Down 10.2 %

FSLR stock traded down $13.99 during midday trading on Wednesday, reaching $123.25. 6,276,089 shares of the company's stock traded hands, compared to its average volume of 2,816,016. The business has a 50-day moving average price of $132.48 and a two-hundred day moving average price of $167.74. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $306.77. The company has a market capitalization of $13.22 billion, a P/E ratio of 10.62, a PEG ratio of 0.19 and a beta of 1.48.

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 (EPS) for the quarter, missing analysts' consensus estimates of $2.50 by ($0.55). The company 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%. First Solar's quarterly revenue was up 6.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.20 EPS. Equities research analysts forecast that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity

In related news, General Counsel Jason E. Dymbort sold 363 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $48,551.25. Following the completion of the sale, the general counsel now owns 22,273 shares in the company, valued at approximately $2,979,013.75. This represents a 1.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Georges Antoun sold 229 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares of the company's stock, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 34,311 shares of company stock worth $4,767,158 over the last 90 days. 0.48% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of FSLR. Whalen Wealth Management Inc. raised its stake in shares of First Solar by 47.0% during the 4th quarter. Whalen Wealth Management Inc. now owns 4,859 shares of the solar cell manufacturer's stock worth $856,000 after purchasing an additional 1,554 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in First Solar by 665.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 39,192 shares of the solar cell manufacturer's stock valued at $7,308,000 after acquiring an additional 34,074 shares during the last quarter. Paragon Capital Management Inc. bought a new stake in First Solar in the fourth quarter worth approximately $1,240,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of First Solar by 9.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 595,267 shares of the solar cell manufacturer's stock valued at $104,910,000 after purchasing an additional 49,074 shares in the last quarter. Finally, Golden State Equity Partners lifted its stake in shares of First Solar by 41,342.9% in the 4th quarter. Golden State Equity Partners now owns 2,901 shares of the solar cell manufacturer's stock valued at $511,000 after purchasing an additional 2,894 shares during the last quarter. 92.08% of the stock is owned by institutional investors and hedge funds.

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.

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