First Solar (NASDAQ:FSLR) Price Target Raised to $275.00

First Solar (NASDAQ:FSLR - Free Report) had its price target increased by Mizuho from $251.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an outperform rating on the solar cell manufacturer's stock.

Other analysts have also issued reports about the stock. Truist Financial restated a "buy" rating and issued a $200.00 price objective (down from $245.00) on shares of First Solar in a report on Thursday, May 1st. Morgan Stanley set a $223.00 price objective on shares of First Solar and gave the company an "overweight" rating in a report on Wednesday, April 23rd. Roth Mkm restated a "buy" rating and issued a $280.00 price objective on shares of First Solar in a report on Wednesday, February 26th. Piper Sandler reduced their price objective on shares of First Solar from $230.00 to $205.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Royal Bank of Canada reduced their price objective on shares of First Solar from $237.00 to $214.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, First Solar presently has an average rating of "Moderate Buy" and an average target price of $227.94.

First Solar Trading Up 4.4%

Shares of FSLR stock traded up $7.06 on Monday, hitting $166.87. 1,913,910 shares of the stock traded hands, compared to its average volume of 3,059,551. The firm's 50-day moving average price is $142.44 and its two-hundred day moving average price is $160.01. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14. The stock has a market capitalization of $17.90 billion, a PE ratio of 14.34, a PEG ratio of 0.19 and a beta of 1.46. First Solar has a twelve month low of $116.56 and a twelve month high of $306.77.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million for 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%. The company's revenue was up 6.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.20 EPS. As a group, analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insider Activity

In other First Solar news, insider Kuntal Kumar Verma sold 419 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total transaction of $55,710.24. Following the completion of the sale, the insider now directly owns 4,695 shares of the company's stock, valued at approximately $624,247.20. This trade represents a 8.19% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of First Solar stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the transaction, the insider now owns 5,998 shares in the company, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,670 shares of company stock valued at $2,933,884 in the last ninety days. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Inspire Investing LLC increased its stake in shares of First Solar by 14.1% during the 1st quarter. Inspire Investing LLC now owns 12,649 shares of the solar cell manufacturer's stock valued at $1,599,000 after acquiring an additional 1,564 shares during the last quarter. Strs Ohio acquired a new position in shares of First Solar during the 1st quarter valued at about $23,453,000. Ellsworth Advisors LLC acquired a new position in shares of First Solar during the 1st quarter valued at about $846,000. Foresight Group Ltd Liability Partnership acquired a new position in shares of First Solar during the 1st quarter valued at about $8,783,000. Finally, IFM Investors Pty Ltd increased its stake in shares of First Solar by 4.0% during the 1st quarter. IFM Investors Pty Ltd now owns 21,879 shares of the solar cell manufacturer's stock valued at $2,766,000 after acquiring an additional 836 shares during the last quarter. Institutional investors and hedge funds 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.