First Solar (NASDAQ:FSLR) PT Lowered to $356.00 at Guggenheim

First Solar (NASDAQ:FSLR - Free Report) had its target price decreased by Guggenheim from $359.00 to $356.00 in a report issued on Thursday morning, Benzinga reports. Guggenheim currently has a buy rating on the solar cell manufacturer's stock.

Several other brokerages also recently issued reports on FSLR. Janney Montgomery Scott assumed coverage on First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 price objective for the company. Roth Mkm restated a buy rating and issued a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Susquehanna reiterated a positive rating and set a $258.00 price objective on shares of First Solar in a research note on Friday, April 5th. Royal Bank of Canada reiterated an outperform rating and set a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. Finally, Bank of America increased their price objective on shares of First Solar from $187.00 to $194.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company's stock. According to MarketBeat, First Solar has an average rating of Moderate Buy and a consensus target price of $238.16.

First Solar Stock Performance

Shares of NASDAQ FSLR traded up $2.93 during midday trading on Thursday, reaching $180.51. 3,452,249 shares of the company were exchanged, compared to its average volume of 2,079,837. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The stock has a fifty day simple moving average of $164.89 and a 200 day simple moving average of $157.84. The stock has a market cap of $19.32 billion, a P/E ratio of 23.04, a PEG ratio of 0.30 and a beta of 1.37. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR - Get Free Report) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the previous year, the company earned $0.40 EPS. The firm's revenue for the quarter was up 44.8% compared to the same quarter last year. On average, research analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director R Craig Kennedy sold 1,500 shares of the company's stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Kuntal Kumar Verma sold 787 shares of the firm's stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $160.00, for a total value of $125,920.00. Following the transaction, the insider now directly owns 4,920 shares in the company, valued at approximately $787,200. 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 1,500 shares of the firm's stock in a transaction on Friday, March 1st. The stock was sold at an average price of $157.76, for a total transaction of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,620 shares of company stock worth $4,269,540. Corporate insiders own 0.58% of the company's stock.

Institutional Trading of First Solar

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar in the 1st quarter worth $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar in the 4th quarter worth $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter worth about $29,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the 4th quarter worth about $29,000. Finally, Headinvest LLC bought a new position in shares of First Solar during the 3rd quarter worth about $30,000. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.