First Solar (NASDAQ:FSLR) Given New $285.00 Price Target at Susquehanna

First Solar (NASDAQ:FSLR) had its price objective raised by Susquehanna from $258.00 to $285.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have a positive rating on the solar cell manufacturer’s stock.

A number of other research firms also recently issued reports on FSLR. Piper Sandler boosted their price target on First Solar from $195.00 to $219.00 and gave the company an overweight rating in a research note on Tuesday, May 21st. Jefferies Financial Group increased their price target on shares of First Solar from $209.50 to $211.00 and gave the stock a buy rating in a research report on Thursday, May 2nd. Mizuho reissued a neutral rating and set a $274.00 price objective (up previously from $209.00) on shares of First Solar in a research report on Thursday, May 30th. JPMorgan Chase & Co. upped their price objective on First Solar from $240.00 to $262.00 and gave the stock an overweight rating in a research note on Thursday, May 23rd. Finally, Oppenheimer lifted their target price on First Solar from $271.00 to $325.00 and gave the company an outperform rating in a research report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, First Solar has an average rating of Moderate Buy and an average target price of $267.12.

First Solar Trading Up 6.6 %

NASDAQ:FSLR opened at $231.11 on Wednesday. The stock has a market cap of $24.74 billion, a price-to-earnings ratio of 24.23, a PEG ratio of 0.30 and a beta of 1.44. The company has a quick ratio of 1.86, a current ratio of 2.41 and a debt-to-equity ratio of 0.06. The company’s 50 day moving average price is $235.30 and its 200-day moving average price is $186.60. First Solar has a 52 week low of $129.21 and a 52 week high of $306.77.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.90 by $0.30. The firm had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The company’s revenue was up 44.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, equities research analysts forecast that First Solar will post 13.58 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Caroline Stockdale sold 12,406 shares of the firm’s stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $205.00, for a total value of $2,543,230.00. Following the completion of the sale, the insider now owns 22,025 shares in the company, valued at approximately $4,515,125. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other First Solar news, insider Michael Koralewski sold 4,646 shares of the stock in a transaction on Thursday, May 30th. The stock was sold at an average price of $272.92, for a total value of $1,267,986.32. Following the sale, the insider now owns 7,766 shares in the company, valued at $2,119,496.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Caroline Stockdale sold 12,406 shares of First Solar stock in a transaction on Tuesday, May 21st. The stock was sold at an average price of $205.00, for a total value of $2,543,230.00. Following the sale, the insider now owns 22,025 shares of the company’s stock, valued at $4,515,125. The disclosure for this sale can be found here. Insiders have sold 51,153 shares of company stock worth $12,540,428 over the last quarter. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Cambridge Trust Co. grew its stake in First Solar by 1.6% in the 1st quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after acquiring an additional 50 shares in the last quarter. Great Diamond Partners LLC grew its stake in First Solar by 3.8% in the first quarter. Great Diamond Partners LLC now owns 1,463 shares of the solar cell manufacturer’s stock worth $247,000 after purchasing an additional 53 shares in the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in First Solar by 24.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 311 shares of the solar cell manufacturer’s stock worth $70,000 after purchasing an additional 62 shares during the period. Family Legacy Inc. lifted its holdings in shares of First Solar by 1.4% in the 1st quarter. Family Legacy Inc. now owns 4,950 shares of the solar cell manufacturer’s stock worth $836,000 after buying an additional 69 shares during the period. Finally, Harbor Investment Advisory LLC grew its position in shares of First Solar by 36.0% during the 1st quarter. Harbor Investment Advisory LLC now owns 272 shares of the solar cell manufacturer’s stock worth $46,000 after buying an additional 72 shares in the last quarter. 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.