First Solar (NASDAQ:FSLR) PT Raised to $228.00 at Barclays

First Solar (NASDAQ:FSLR - Get Free Report) had its price target hoisted by equities researchers at Barclays from $227.00 to $228.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "overweight" rating on the solar cell manufacturer's stock. Barclays's price target would indicate a potential upside of 18.79% from the company's current price.

A number of other brokerages have also recently issued reports on FSLR. JPMorgan Chase & Co. upped their target price on First Solar from $237.00 to $240.00 and gave the stock an "overweight" rating in a report on Thursday, May 2nd. Evercore ISI raised First Solar from an "in-line" rating to an "outperform" rating and set a $227.00 target price for the company in a report on Tuesday, April 23rd. DZ Bank initiated coverage on First Solar in a research note on Wednesday, April 17th. They issued a "buy" rating and a $205.00 price target for the company. Jefferies Financial Group increased their price target on First Solar from $209.50 to $211.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Finally, The Goldman Sachs Group increased their price target on First Solar from $265.00 to $268.00 and gave the company a "buy" rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $238.20.

First Solar Price Performance

Shares of FSLR stock traded up $4.96 on Wednesday, hitting $191.93. 2,374,948 shares of the company's stock were exchanged, compared to its average volume of 2,070,719. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar has a 12 month low of $129.21 and a 12 month high of $224.50. The stock has a market cap of $20.54 billion, a P/E ratio of 19.60, a price-to-earnings-growth ratio of 0.33 and a beta of 1.37. The company has a 50 day moving average of $172.05 and a 200 day moving average of $160.32.

First Solar (NASDAQ:FSLR - Get Free Report) last issued its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million during the quarter, compared to analysts' expectations of $718.19 million. During the same quarter in the prior year, the firm earned $0.40 EPS. The business's revenue for the quarter was up 44.8% compared to the same quarter last year. On average, equities research analysts predict that First Solar will post 13.56 EPS for the current year.

Insider Activity

In other news, Director R Craig Kennedy sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the transaction, the director now owns 13,908 shares in the company, valued at $2,736,120.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other First Solar news, insider Georges Antoun sold 16,667 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the sale, the insider now directly owns 42,041 shares of the company's stock, valued at $6,539,477.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Craig Kennedy sold 2,000 shares of the firm's stock in a transaction on Monday, May 6th. The stock was sold at an average price of $196.73, for a total value of $393,460.00. Following the completion of the sale, the director now directly owns 13,908 shares of the company's stock, valued at $2,736,120.84. The disclosure for this sale can be found here. Insiders have sold 31,785 shares of company stock worth $5,265,869 over the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in First Solar by 0.9% in the first quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer's stock worth $2,068,991,000 after buying an additional 105,236 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in shares of First Solar by 11.1% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer's stock valued at $472,963,000 after purchasing an additional 279,719 shares in the last quarter. Schroder Investment Management Group grew its position in shares of First Solar by 16.7% in the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer's stock valued at $422,861,000 after purchasing an additional 351,540 shares in the last quarter. Wellington Management Group LLP grew its position in shares of First Solar by 10.2% in the third quarter. Wellington Management Group LLP now owns 2,283,705 shares of the solar cell manufacturer's stock valued at $369,024,000 after purchasing an additional 211,755 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of First Solar in the fourth quarter valued at $298,123,000. 92.08% of the stock is 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.