BMO Capital Markets Cuts First Solar (NASDAQ:FSLR) Price Target to $187.00

First Solar (NASDAQ:FSLR - Get Free Report) had its price objective lowered by equities researchers at BMO Capital Markets from $200.00 to $187.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the solar cell manufacturer's stock. BMO Capital Markets' price target suggests a potential upside of 43.25% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of First Solar from $282.00 to $268.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 26th. Mizuho raised First Solar from a "neutral" rating to an "outperform" rating and lifted their target price for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. 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 note on Wednesday. UBS Group dropped their price objective on First Solar from $285.00 to $240.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Robert W. Baird reduced their target price on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, First Solar currently has an average rating of "Moderate Buy" and an average price target of $223.87.

First Solar Price Performance

NASDAQ:FSLR traded up $3.97 during mid-day trading on Wednesday, hitting $130.54. The company's stock had a trading volume of 3,393,776 shares, compared to its average volume of 2,857,722. The stock has a fifty day moving average of $131.03 and a 200-day moving average of $166.38. 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 company has a market capitalization of $14.00 billion, a price-to-earnings ratio of 11.24, a P/E/G ratio of 0.19 and a beta of 1.48. First Solar has a fifty-two week low of $116.56 and a fifty-two week high of $306.77.

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

Insider Activity at First Solar

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the firm's stock in a transaction on Friday, February 28th. The stock was sold at an average price of $141.09, for a total value of $3,039,360.78. Following the sale, the chief executive officer now owns 103,403 shares of the company's stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 229 shares of the business'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 transaction, the insider now directly owns 52,836 shares of the company's stock, valued at $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 valued at $4,767,158 over the last quarter. 0.48% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in FSLR. Clear Harbor Asset Management LLC grew its stake in shares of First Solar by 0.6% during the fourth quarter. Clear Harbor Asset Management LLC now owns 9,210 shares of the solar cell manufacturer's stock worth $1,623,000 after buying an additional 55 shares during the last quarter. Doliver Advisors LP grew its position in First Solar by 1.2% during the 4th quarter. Doliver Advisors LP now owns 4,713 shares of the solar cell manufacturer's stock worth $831,000 after acquiring an additional 56 shares during the last quarter. Smartleaf Asset Management LLC raised its position in First Solar by 31.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer's stock valued at $47,000 after purchasing an additional 63 shares during the last quarter. Independent Advisor Alliance grew its holdings in shares of First Solar by 3.1% during the fourth quarter. Independent Advisor Alliance now owns 2,090 shares of the solar cell manufacturer's stock worth $368,000 after purchasing an additional 63 shares during the last quarter. Finally, Huntington National Bank increased its position in First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock valued at $90,000 after acquiring an additional 68 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.