First Solar (NASDAQ:FSLR) Given New $278.00 Price Target at Mizuho

First Solar (NASDAQ:FSLR - Free Report) had its price target raised by Mizuho from $275.00 to $278.00 in a report issued on Monday,Benzinga reports. The firm currently has an outperform rating on the solar cell manufacturer's stock.

A number of other equities research analysts have also weighed in on FSLR. Piper Sandler decreased their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating for the company in a report on Monday, April 21st. TD Cowen decreased their price target on shares of First Solar from $275.00 to $200.00 and set a "buy" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets lowered their price target on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a report on Wednesday, April 30th. KeyCorp downgraded First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price objective on the stock. in a report on Wednesday, April 30th. Finally, Bank of America lowered their target price on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of "Moderate Buy" and an average target price of $228.80.

First Solar Trading Down 1.0%

Shares of NASDAQ:FSLR traded down $1.60 during trading hours on Monday, hitting $160.84. 1,904,979 shares of the company's stock traded hands, compared to its average volume of 3,994,491. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.93 and a quick ratio of 1.39. The business has a fifty day moving average price of $160.16 and a 200-day moving average price of $153.86. First Solar has a 1 year low of $116.56 and a 1 year high of $262.72. The firm has a market capitalization of $17.25 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 0.32 and a beta of 1.52.

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 analysts' consensus estimates of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The business had revenue of $844.57 million for the quarter, compared to analysts' expectations of $863.11 million. During the same quarter in the previous year, the firm earned $2.20 EPS. First Solar's revenue was up 6.4% compared to the same quarter last year. Equities analysts expect that First Solar will post 13.05 earnings per share for the current year.

Insider Buying and Selling

In other First Solar news, CTO Markus Gloeckler sold 9,557 shares of the stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the transaction, the insider 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 have sold a total of 15,976 shares of company stock worth $2,515,172 in the last ninety days. 0.48% of the stock is owned by insiders.

Institutional Inflows and Outflows

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