First Solar (NASDAQ:FSLR) Given New $208.00 Price Target at JPMorgan Chase & Co.

First Solar (NASDAQ:FSLR - Free Report) had its target price lifted by JPMorgan Chase & Co. from $200.00 to $208.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an overweight rating on the solar cell manufacturer's stock.

A number of other brokerages also recently issued reports on FSLR. Barclays reduced their price objective on shares of First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Bank of America decreased their price target on First Solar from $236.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Guggenheim lowered their target price on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Wells Fargo & Company decreased their price objective on shares of First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a report on Wednesday, April 30th. Finally, Truist Financial restated a "buy" rating and set a $200.00 price target (down previously from $245.00) on shares of First Solar in a research note on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, First Solar presently has a consensus rating of "Moderate Buy" and a consensus target price of $225.73.

First Solar Stock Performance

Shares of FSLR traded up $1.66 during mid-day trading on Tuesday, reaching $179.99. The company's stock had a trading volume of 1,943,397 shares, compared to its average volume of 3,252,231. The stock has a market cap of $19.30 billion, a P/E ratio of 15.31, a PEG ratio of 0.35 and a beta of 1.52. The business has a 50-day simple moving average of $163.98 and a two-hundred day simple moving average of $153.50. First Solar has a 1-year low of $116.56 and a 1-year high of $262.72. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04.

First Solar (NASDAQ:FSLR - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing analysts' consensus estimates 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 16.32% and a net margin of 29.72%. First Solar's quarterly revenue was up 6.4% on a year-over-year basis. During the same period last year, the firm posted $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 First Solar news, insider Patrick James Buehler sold 1,868 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the sale, the insider directly owned 5,998 shares in the company, valued at $894,181.84. This represents a 23.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar 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 sale, the chief technology officer directly owned 8,037 shares in the company, valued at approximately $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,976 shares of company stock valued at $2,515,172. 0.48% of the stock is owned by insiders.

Institutional Trading of First Solar

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harvest Portfolios Group Inc. grew its position in First Solar by 3.9% in the first quarter. Harvest Portfolios Group Inc. now owns 1,658 shares of the solar cell manufacturer's stock valued at $210,000 after acquiring an additional 63 shares during the period. Legend Financial Advisors Inc. boosted its stake in shares of First Solar by 1.4% in the 1st quarter. Legend Financial Advisors Inc. now owns 4,726 shares of the solar cell manufacturer's stock valued at $598,000 after purchasing an additional 64 shares in the last quarter. Harrington Investments INC grew its holdings in shares of First Solar by 0.5% in the 2nd quarter. Harrington Investments INC now owns 13,278 shares of the solar cell manufacturer's stock worth $2,198,000 after purchasing an additional 65 shares during the last quarter. Huntington National Bank grew its holdings in shares of First Solar by 15.3% in the 4th quarter. Huntington National Bank now owns 511 shares of the solar cell manufacturer's stock worth $90,000 after purchasing an additional 68 shares during the last quarter. Finally, Evexia Wealth LLC increased its position in shares of First Solar by 2.1% during the 4th quarter. Evexia Wealth LLC now owns 3,481 shares of the solar cell manufacturer's stock worth $586,000 after purchasing an additional 70 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

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.