Brokerages Set First Solar, Inc. (NASDAQ:FSLR) PT at $262.08

First Solar, Inc. (NASDAQ:FSLR) has earned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation, twenty-three have given a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $260.42.

Several analysts recently commented on the stock. Barclays cut their target price on shares of First Solar from $273.00 to $236.00 and set an “overweight” rating for the company in a research note on Friday, February 28th. Guggenheim reduced their price objective on shares of First Solar from $335.00 to $304.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler reduced their price target on shares of First Solar from $250.00 to $230.00 and set an “overweight” rating for the company in a research report on Wednesday, February 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $230.00 target price (down previously from $260.00) on shares of First Solar in a research report on Wednesday, February 26th. Finally, UBS Group lowered their target price on First Solar from $360.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, February 26th.

First Solar Stock Performance

FSLR opened at $128.69 on Friday. The business has a 50 day moving average price of $145.44 and a two-hundred day moving average price of $181.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44. The company has a market capitalization of $13.78 billion, a price-to-earnings ratio of 11.08, a price-to-earnings-growth ratio of 0.19 and a beta of 1.52. First Solar has a 1-year low of $120.60 and a 1-year high of $306.77.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share for the quarter, missing the consensus estimate of $4.81 by ($1.16). The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.48 billion. First Solar had a net margin of 32.41% and a return on equity of 17.56%. Research analysts predict that First Solar will post 13.05 EPS for the current fiscal year.

Insider Activity at First Solar

In other news, insider Georges Antoun sold 229 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $30,628.75. Following the sale, the insider now owns 52,836 shares in the company, valued at approximately $7,066,815. This trade represents a 0.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Mark R. Widmar sold 21,542 shares of the company’s stock in a transaction on Friday, February 28th. The shares were sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. The trade was a 17.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 34,311 shares of company stock worth $4,767,158. 0.58% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Larson Financial Group LLC increased its stake in First Solar by 214.0% during the third quarter. Larson Financial Group LLC now owns 157 shares of the solar cell manufacturer’s stock valued at $39,000 after acquiring an additional 107 shares during the period. Smartleaf Asset Management LLC increased its position in shares of First Solar by 31.7% during the fourth quarter. Smartleaf Asset Management LLC now owns 262 shares of the solar cell manufacturer’s stock valued at $47,000 after purchasing an additional 63 shares during the period. Crews Bank & Trust bought a new stake in shares of First Solar during the fourth quarter valued at approximately $53,000. Hudson Edge Investment Partners Inc. acquired a new position in shares of First Solar in the fourth quarter valued at $53,000. Finally, Banque Transatlantique SA bought a new position in First Solar in the fourth quarter worth $53,000. Institutional investors own 92.08% of the company’s stock.

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.