First Solar (NASDAQ:FSLR) PT Raised to $343.00

First Solar (NASDAQ:FSLR) had its target price raised by investment analysts at Bank of America from $320.00 to $343.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a “buy” rating on the solar cell manufacturer’s stock. Bank of America‘s price objective would indicate a potential upside of 42.93% from the stock’s current price.

A number of other research analysts have also commented on FSLR. Roth Mkm restated a “buy” rating and set a $320.00 price target (up from $230.00) on shares of First Solar in a research report on Friday, May 31st. Royal Bank of Canada reiterated an “outperform” rating and set a $315.00 target price on shares of First Solar in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their price target on First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. BMO Capital Markets dropped their price objective on First Solar from $311.00 to $286.00 and set an “outperform” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group increased their price objective on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Five equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $283.46.

First Solar Price Performance

FSLR stock opened at $239.98 on Monday. The company has a market capitalization of $25.69 billion, a P/E ratio of 25.00, a price-to-earnings-growth ratio of 0.40 and a beta of 1.44. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The business has a 50-day simple moving average of $221.19 and a two-hundred day simple moving average of $211.13. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating the consensus estimate of $2.69 by $0.56. First Solar had a net margin of 31.98% and a return on equity of 17.73%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. During the same quarter last year, the business posted $1.85 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Research analysts expect that First Solar will post 13.6 EPS for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on 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 sale, the insider now directly owns 3,468 shares in the company, valued at approximately $769,896. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 1,621 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $260.00, for a total value of $421,460.00. Following the sale, the insider now owns 3,549 shares in the company, valued at approximately $922,740. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,506 shares of company stock valued at $2,827,217. 0.58% of the stock is owned by company insiders.

Institutional Trading of First Solar

Institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in First Solar by 0.9% in the 1st quarter. Vanguard Group Inc. now owns 12,257,053 shares of the solar cell manufacturer’s stock worth $2,068,991,000 after purchasing an additional 105,236 shares during the last quarter. Electron Capital Partners LLC grew its stake in First Solar by 81,947.0% in the 2nd quarter. Electron Capital Partners LLC now owns 7,669,757 shares of the solar cell manufacturer’s stock valued at $1,729,223,000 after buying an additional 7,660,409 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its position in First Solar by 11.1% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 2,801,916 shares of the solar cell manufacturer’s stock worth $472,963,000 after buying an additional 279,719 shares during the period. Schroder Investment Management Group increased its stake in First Solar by 16.7% during the fourth quarter. Schroder Investment Management Group now owns 2,454,499 shares of the solar cell manufacturer’s stock valued at $422,861,000 after acquiring an additional 351,540 shares during the period. Finally, Norges Bank bought a new position in shares of First Solar during the 4th quarter worth about $298,123,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.