First Solar (NASDAQ:FSLR) Stock Price Expected to Rise, Mizuho Analyst Says

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

A number of other analysts have also issued reports on the stock. Truist Financial reiterated a "buy" rating and set a $200.00 price target (down from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Wells Fargo & Company cut their price target on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 30th. Roth Mkm reiterated a "buy" rating and set a $280.00 price target on shares of First Solar in a research note on Wednesday, February 26th. Wall Street Zen lowered shares of First Solar from a "hold" rating to a "sell" rating in a research note on Friday, May 2nd. Finally, Bank of America cut their price target on shares of First Solar from $236.00 to $215.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, twenty-four have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and an average target price of $227.94.

First Solar Price Performance

First Solar stock traded up $9.72 during trading on Monday, reaching $159.37. The company had a trading volume of 4,473,397 shares, compared to its average volume of 3,059,811. The firm's 50-day simple moving average is $141.14 and its 200 day simple moving average is $160.01. First Solar has a 1-year low of $116.56 and a 1-year high of $306.77. The firm has a market capitalization of $17.09 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its earnings results 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). The business had revenue of $844.57 million for the quarter, compared to analyst estimates of $863.11 million. First Solar had a return on equity of 17.56% and a net margin of 32.41%. The company's revenue for the quarter was up 6.4% compared to the same quarter last year. During the same period last year, the firm earned $2.20 EPS. As a group, equities research analysts anticipate that First Solar will post 13.05 earnings per share for the current fiscal year.

Insider Activity at First Solar

In other news, CEO Mark R. Widmar sold 1,272 shares of First Solar stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $132.96, for a total value of $169,125.12. Following the completion of the transaction, the chief executive officer now owns 109,000 shares in the company, valued at approximately $14,492,640. This trade represents a 1.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kuntal Kumar Verma sold 419 shares of the business's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $132.96, for a total value of $55,710.24. Following the transaction, the insider now owns 4,695 shares of the company's stock, valued at $624,247.20. This represents a 8.19% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,802 shares of company stock worth $2,655,403. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Inspire Investing LLC boosted its position in First Solar by 14.1% during the 1st quarter. Inspire Investing LLC now owns 12,649 shares of the solar cell manufacturer's stock worth $1,599,000 after acquiring an additional 1,564 shares during the period. Strs Ohio acquired a new stake in shares of First Solar during the first quarter worth $23,453,000. Ellsworth Advisors LLC acquired a new stake in shares of First Solar during the first quarter worth $846,000. Foresight Group Ltd Liability Partnership acquired a new position in First Solar during the first quarter valued at $8,783,000. Finally, IFM Investors Pty Ltd raised its position in First Solar by 4.0% during the first quarter. IFM Investors Pty Ltd now owns 21,879 shares of the solar cell manufacturer's stock valued at $2,766,000 after buying an additional 836 shares during the period. Institutional investors and hedge funds 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.