First Solar (NASDAQ:FSLR) Price Target Raised to $330.00

Key Points

• UBS Group raised its price target on First Solar from $290 to $330 while keeping a buy rating, implying about 26% upside from the previous close.
• Other analysts remain generally positive on the stock, with First Solar carrying an overall Moderate Buy consensus and an average price target of $248.88.
• First Solar shares were up sharply on the day, and the company recently beat quarterly expectations with $3.22 EPS versus $2.87 estimated and revenue of $1.04 billion.

First Solar (NASDAQ:FSLR - Get Free Report) had its target price raised by equities research analysts at UBS Group from $290.00 to $330.00 in a research report issued on Thursday,MarketScreener reports. The brokerage presently has a "buy" rating on the solar cell manufacturer's stock. UBS Group's price objective would indicate a potential upside of 26.31% from the company's previous close.

Other equities analysts have also issued reports about the stock. Freedom Capital raised shares of First Solar from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 5th. The Goldman Sachs Group lifted their price objective on shares of First Solar from $300.00 to $310.00 in a report on Friday, May 1st. Zacks Research upgraded shares of First Solar from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. TD Cowen dropped their target price on First Solar from $320.00 to $253.00 and set a "buy" rating on the stock in a research report on Wednesday, February 25th. Finally, Barclays reduced their price target on First Solar from $228.00 to $213.00 and set an "overweight" rating for the company in a report on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average price target of $248.88.

First Solar Stock Performance

Shares of FSLR stock traded up $11.99 on Thursday, hitting $261.26. The company had a trading volume of 384,581 shares, compared to its average volume of 2,485,961. First Solar has a twelve month low of $135.50 and a twelve month high of $320.95. The company has a quick ratio of 2.15, a current ratio of 2.56 and a debt-to-equity ratio of 0.02. The firm has a market cap of $28.07 billion, a P/E ratio of 16.85, a price-to-earnings-growth ratio of 0.58 and a beta of 1.71. The company has a 50-day moving average price of $229.12 and a 200-day moving average price of $233.27.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its earnings results on Thursday, April 30th. The solar cell manufacturer reported $3.22 EPS for the quarter, topping the consensus estimate of $2.87 by $0.35. First Solar had a return on equity of 18.01% and a net margin of 30.73%.The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same period last year, the company earned $1.95 earnings per share. First Solar's revenue for the quarter was up 23.6% compared to the same quarter last year. As a group, equities research analysts predict that First Solar will post 17.61 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 582 shares of the business's stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $250.00, for a total transaction of $145,500.00. Following the completion of the sale, the insider directly owned 4,967 shares in the company, valued at approximately $1,241,750. The trade was a 10.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Alexander R. Bradley sold 14,106 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $199.97, for a total value of $2,820,776.82. Following the transaction, the chief financial officer directly owned 30,000 shares of the company's stock, valued at $5,999,100. The trade was a 31.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,694 shares of company stock worth $13,659,583 in the last three months. 0.39% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC boosted its position in First Solar by 1.7% during the third quarter. Linden Thomas Advisory Services LLC now owns 2,287 shares of the solar cell manufacturer's stock worth $504,000 after acquiring an additional 39 shares during the last quarter. Apollon Wealth Management LLC boosted its holdings in shares of First Solar by 1.2% during the 4th quarter. Apollon Wealth Management LLC now owns 3,606 shares of the solar cell manufacturer's stock worth $942,000 after purchasing an additional 44 shares during the last quarter. Root Financial Partners LLC grew its position in shares of First Solar by 18.2% in the fourth quarter. Root Financial Partners LLC now owns 292 shares of the solar cell manufacturer's stock valued at $76,000 after purchasing an additional 45 shares in the last quarter. FIL Ltd lifted its position in First Solar by 6.9% during the fourth quarter. FIL Ltd now owns 708 shares of the solar cell manufacturer's stock worth $185,000 after buying an additional 46 shares in the last quarter. Finally, Fielder Capital Group LLC boosted its stake in First Solar by 4.1% during the fourth quarter. Fielder Capital Group LLC now owns 1,196 shares of the solar cell manufacturer's stock worth $312,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 92.08% of the company's stock.

First Solar Company Profile

First Solar, Inc NASDAQ: FSLR is a United States–based solar technology company best known for designing and manufacturing thin‑film photovoltaic (PV) modules that use cadmium telluride (CdTe) semiconductor technology. The company supplies PV modules and delivers integrated solar power solutions for utility‑scale projects, positioning itself as a provider of both components and complete solar energy systems rather than solely a parts supplier. First Solar was founded in 1999 and is headquartered in Tempe, Arizona.

Beyond module manufacturing, First Solar offers a range of project services including development support, engineering, procurement and construction (EPC) services, and operations and maintenance (O&M) for large-scale solar installations.

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