First Solar (NASDAQ:FSLR) Price Target Cut to $280.00

First Solar (NASDAQ:FSLR) had its target price lowered by Roth Mkm from $320.00 to $280.00 in a research report sent to investors on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the topic of several other research reports. Clarkson Capital assumed coverage on First Solar in a report on Wednesday, August 14th. They set a “buy” rating and a $270.00 price target on the stock. Deutsche Bank Aktiengesellschaft raised their target price on shares of First Solar from $215.00 to $280.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Janney Montgomery Scott downgraded shares of First Solar from a “buy” rating to a “neutral” rating in a report on Tuesday, June 18th. UBS Group raised their price objective on shares of First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, Oppenheimer upped their target price on First Solar from $325.00 to $326.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.64.

First Solar Price Performance

First Solar stock opened at $203.37 on Tuesday. First Solar has a 52-week low of $129.21 and a 52-week high of $306.77. The company has a quick ratio of 1.65, a current ratio of 2.23 and a debt-to-equity ratio of 0.06. The firm’s fifty day moving average is $227.19 and its 200 day moving average is $222.24. The company has a market cap of $21.77 billion, a price-to-earnings ratio of 21.32, a PEG ratio of 0.38 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $939.71 million. During the same quarter last year, the firm earned $1.85 EPS. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. Sell-side analysts forecast that First Solar will post 13.53 EPS for the current fiscal year.

Insider Activity at First Solar

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

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of FSLR. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of First Solar in the 1st quarter valued at $25,000. AlphaMark Advisors LLC acquired a new position in First Solar during the third quarter valued at $25,000. Atlas Capital Advisors LLC boosted its holdings in First Solar by 411.1% in the second quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after purchasing an additional 111 shares during the last quarter. Riverview Trust Co acquired a new stake in First Solar during the 1st quarter worth about $32,000. Finally, Summit Securities Group LLC purchased a new position in shares of First Solar during the 2nd quarter valued at about $36,000. Institutional investors and hedge funds 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.