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

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

FSLR has been the subject of a number of other reports. Robert W. Baird decreased their price objective on shares of First Solar from $267.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday, April 15th. KeyCorp cut shares of First Solar from a "sector weight" rating to an "underweight" rating and set a $100.00 price target on the stock. in a research report on Wednesday, April 30th. Truist Financial reissued a "buy" rating and issued a $200.00 target price (down previously from $245.00) on shares of First Solar in a report on Thursday, May 1st. TD Cowen lowered their price objective on shares of First Solar from $275.00 to $200.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Finally, Oppenheimer lowered shares of First Solar from an "outperform" rating to a "market perform" rating in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $225.73.

First Solar Trading Down 0.1%

Shares of FSLR stock traded down $0.22 on Tuesday, reaching $179.77. 1,892,475 shares of the stock were exchanged, compared to its average volume of 3,246,821. The stock has a market cap of $19.28 billion, a P/E ratio of 15.29, a price-to-earnings-growth ratio of 0.35 and a beta of 1.52. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm has a 50 day moving average of $164.19 and a two-hundred day moving average of $153.63. First Solar has a 1-year low of $116.56 and a 1-year high of $262.72.

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 (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). First Solar had a net margin of 29.72% and a return on equity of 16.32%. The company had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. During the same quarter in the prior year, the company posted $2.20 earnings per share. The firm's revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 1,868 shares of the business'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. The trade was a 23.75% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of the company's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total transaction 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. The trade was a 54.32% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is currently owned by company insiders.

Institutional Trading of First Solar

Several large investors have recently added to or reduced their stakes in FSLR. Oppenheimer & Co. Inc. lifted its holdings in First Solar by 396.5% in the first quarter. Oppenheimer & Co. Inc. now owns 11,777 shares of the solar cell manufacturer's stock valued at $1,489,000 after buying an additional 9,405 shares during the period. Asset Management One Co. Ltd. increased its stake in First Solar by 7.1% in the first quarter. Asset Management One Co. Ltd. now owns 48,722 shares of the solar cell manufacturer's stock valued at $6,160,000 after purchasing an additional 3,226 shares in the last quarter. Vontobel Holding Ltd. increased its stake in First Solar by 14.2% in the first quarter. Vontobel Holding Ltd. now owns 189,320 shares of the solar cell manufacturer's stock valued at $23,936,000 after purchasing an additional 23,528 shares in the last quarter. Oakworth Capital Inc. increased its stake in First Solar by 24.7% in the first quarter. Oakworth Capital Inc. now owns 9,682 shares of the solar cell manufacturer's stock valued at $1,224,000 after purchasing an additional 1,916 shares in the last quarter. Finally, Ethic Inc. increased its stake in First Solar by 34.2% in the fourth quarter. Ethic Inc. now owns 17,807 shares of the solar cell manufacturer's stock valued at $3,138,000 after purchasing an additional 4,542 shares in the last quarter. 92.08% of the stock is owned by 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.