First Solar (NASDAQ:FSLR) Given New $278.00 Price Target at Evercore ISI

First Solar (NASDAQ:FSLR) had its target price lowered by Evercore ISI from $281.00 to $278.00 in a report issued on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the solar cell manufacturer’s stock.

Several other research firms have also commented on FSLR. Susquehanna reduced their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday. Barclays increased their target price on shares of First Solar from $280.00 to $290.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Morgan Stanley reduced their target price on shares of First Solar from $329.00 to $297.00 and set an “overweight” rating on the stock in a report on Wednesday. Roth Mkm reduced their target price on shares of First Solar from $320.00 to $280.00 and set a “buy” rating on the stock in a report on Tuesday, October 15th. Finally, DZ Bank raised shares of First Solar from a “hold” rating to a “buy” rating and set a $280.00 target price on the stock in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Price Performance

Shares of NASDAQ:FSLR opened at $204.94 on Wednesday. The company’s fifty day moving average price is $221.68 and its 200-day moving average price is $223.93. The firm has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a PEG ratio of 0.34 and a beta of 1.48. First Solar has a one year low of $129.21 and a one year high of $306.77. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.65.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). The company had revenue of $887.70 million during the quarter, compared to the consensus estimate of $1.07 billion. First Solar had a return on equity of 17.56% and a net margin of 32.41%. First Solar’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period in the previous year, the company earned $2.50 EPS. On average, equities research analysts anticipate that First Solar will post 13.12 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In other news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction dated Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the completion of the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at $108,250. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of First Solar stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at approximately $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,885 shares of company stock valued at $2,405,757. Company insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of FSLR. Brookstone Capital Management purchased a new position in First Solar during the 1st quarter valued at about $244,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in First Solar by 6.3% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 259,177 shares of the solar cell manufacturer’s stock valued at $43,749,000 after acquiring an additional 15,430 shares during the period. First Trust Direct Indexing L.P. purchased a new position in First Solar during the 1st quarter valued at about $215,000. Everett Harris & Co. CA purchased a new position in First Solar during the 1st quarter valued at about $219,000. Finally, Van ECK Associates Corp raised its holdings in First Solar by 3.2% in the first quarter. Van ECK Associates Corp now owns 48,926 shares of the solar cell manufacturer’s stock worth $8,259,000 after buying an additional 1,524 shares during the last quarter. 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.