First Solar (NASDAQ:FSLR) Price Target Raised to $200.00

First Solar (NASDAQ:FSLR - Get Free Report) had its target price upped by stock analysts at Royal Bank Of Canada from $188.00 to $200.00 in a report released on Tuesday, Marketbeat reports. The firm presently has an "outperform" rating on the solar cell manufacturer's stock. Royal Bank Of Canada's price target points to a potential upside of 7.86% from the company's current price.

Several other analysts also recently commented on the stock. Mizuho raised their price objective on shares of First Solar from $251.00 to $275.00 and gave the company an "outperform" rating in a research report on Monday, June 2nd. Barclays cut their price target on First Solar from $236.00 to $204.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Wells Fargo & Company dropped their price objective on First Solar from $191.00 to $177.00 and set an "overweight" rating for the company in a research note on Wednesday, April 30th. BMO Capital Markets cut their target price on First Solar from $200.00 to $187.00 and set an "outperform" rating for the company in a research report on Wednesday, April 30th. Finally, Guggenheim lowered their price target on First Solar from $253.00 to $202.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-four have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $228.69.

First Solar Stock Performance

FSLR stock traded up $14.91 during midday trading on Tuesday, reaching $185.43. 6,397,693 shares of the company's stock traded hands, compared to its average volume of 3,236,815. The stock's 50-day moving average is $154.81 and its 200 day moving average is $154.89. The stock has a market cap of $19.89 billion, a P/E ratio of 15.77, a PEG ratio of 0.33 and a beta of 1.52. First Solar has a 52-week low of $116.56 and a 52-week 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 data on Tuesday, April 29th. The solar cell manufacturer reported $1.95 EPS for the quarter, missing the consensus estimate of $2.50 by ($0.55). The company had revenue of $844.57 million during the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The firm's quarterly revenue was up 6.4% compared to the same quarter last year. During the same period last year, the business earned $2.20 EPS. As a group, analysts anticipate that First Solar will post 13.05 EPS for the current year.

Insider Activity

In related news, insider Patrick James Buehler sold 1,868 shares of the firm's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $894,181.84. This trade represents a 23.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction on 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 owned 8,037 shares of the company's stock, valued at approximately $1,246,136.85. This trade represents a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 14,376 shares of company stock valued at $2,227,172. 0.48% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Harbor Investment Advisory LLC increased its holdings in First Solar by 138.9% during the 2nd quarter. Harbor Investment Advisory LLC now owns 172 shares of the solar cell manufacturer's stock worth $28,000 after purchasing an additional 100 shares during the period. Garde Capital Inc. bought a new position in shares of First Solar during the 1st quarter worth $25,000. Wealth Preservation Advisors LLC purchased a new position in shares of First Solar during the first quarter valued at $25,000. Colonial Trust Advisors purchased a new position in shares of First Solar during the first quarter valued at $32,000. Finally, Larson Financial Group LLC raised its holdings in shares of First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer's stock valued at $32,000 after acquiring an additional 219 shares in the last quarter. Institutional investors own 92.08% of the company's stock.

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.