First Solar (NASDAQ:FSLR) Price Target Raised to $194.00

First Solar (NASDAQ:FSLR - Get Free Report) had its target price upped by stock analysts at Jefferies Financial Group from $192.00 to $194.00 in a report released on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the solar cell manufacturer's stock. Jefferies Financial Group's target price would indicate a potential upside of 12.92% from the company's current price.

A number of other analysts have also weighed in on the company. Wells Fargo & Company dropped their target price on First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a report on Wednesday, April 30th. The Goldman Sachs Group raised their target price on First Solar from $204.00 to $255.00 and gave the company a "buy" rating in a research report on Monday, May 19th. Susquehanna reduced their price objective on First Solar from $223.00 to $217.00 and set a "positive" rating for the company in a research report on Monday, April 14th. Guggenheim decreased their target price on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Finally, KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective for the company. in a research report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-four have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $228.87.

First Solar Trading Up 6.8%

First Solar stock traded up $10.96 during trading hours on Tuesday, reaching $171.80. The company had a trading volume of 3,624,496 shares, compared to its average volume of 3,264,134. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. First Solar has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market cap of $18.42 billion, a price-to-earnings ratio of 14.61, a P/E/G ratio of 0.32 and a beta of 1.52. The company has a 50-day moving average price of $160.16 and a 200 day moving average price of $153.86.

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

Insider Transactions at First Solar

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total transaction of $466,877.71. Following the sale, the insider directly owned 11,369 shares in the company, valued at $1,798,689.49. This represents a 20.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Patrick James Buehler sold 1,868 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 15,976 shares of company stock valued at $2,515,172 over the last 90 days. Company insiders own 0.48% of the company's stock.

Institutional Trading of First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Garde Capital Inc. purchased a new position in shares of First Solar during the 1st quarter worth approximately $25,000. Wealth Preservation Advisors LLC acquired a new position in shares of First Solar during the first quarter valued at approximately $25,000. Harbor Investment Advisory LLC boosted its stake in First Solar by 138.9% in the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after purchasing an additional 100 shares during the period. Larson Financial Group LLC grew its holdings in shares of First Solar by 591.9% during the 1st quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Finally, Colonial Trust Advisors acquired a new stake in shares of First Solar in the 1st quarter valued at $32,000. Hedge funds and other 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.

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