First Solar (NASDAQ:FSLR) Price Target Raised to $344.00

First Solar (NASDAQ:FSLRGet Free Report) had its target price raised by analysts at Robert W. Baird from $246.00 to $344.00 in a research note issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the solar cell manufacturer’s stock. Robert W. Baird’s price objective suggests a potential upside of 22.94% from the stock’s current price.

FSLR has been the subject of several other reports. The Goldman Sachs Group lifted their price objective on First Solar from $268.00 to $302.00 and gave the stock a “buy” rating in a research report on Tuesday, June 4th. Piper Sandler boosted their price target on First Solar from $195.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Morgan Stanley boosted their price target on First Solar from $248.00 to $331.00 and gave the company an “overweight” rating in a report on Tuesday, June 4th. UBS Group boosted their price target on First Solar from $270.00 to $350.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Finally, JPMorgan Chase & Co. boosted their price target on First Solar from $240.00 to $262.00 and gave the company an “overweight” rating in a report on Thursday, May 23rd. Four investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar has a consensus rating of “Moderate Buy” and an average price target of $263.56.

Check Out Our Latest Report on First Solar

First Solar Trading Up 4.7 %

Shares of First Solar stock opened at $279.80 on Tuesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 1.86. First Solar has a 1 year low of $129.21 and a 1 year high of $286.60. The company has a market capitalization of $29.95 billion, a P/E ratio of 29.33, a P/E/G ratio of 0.35 and a beta of 1.47. The business has a 50 day moving average price of $205.73 and a 200 day moving average price of $173.47.

First Solar (NASDAQ:FSLRGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same period in the previous year, the firm posted $0.40 EPS. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. Sell-side analysts anticipate that First Solar will post 13.55 EPS for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $169.72, for a total value of $407,328.00. Following the completion of the transaction, the insider now directly owns 39,812 shares of the company’s stock, valued at approximately $6,756,892.64. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $169.72, for a total transaction of $407,328.00. Following the completion of the sale, the insider now owns 39,812 shares in the company, valued at approximately $6,756,892.64. The disclosure for this sale can be found here. Insiders sold a total of 56,519 shares of company stock valued at $13,324,756 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of institutional investors have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new stake in First Solar during the first quarter worth about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new stake in First Solar during the fourth quarter worth about $27,000. Baystate Wealth Management LLC acquired a new stake in First Solar during the fourth quarter worth about $29,000. Estabrook Capital Management acquired a new stake in First Solar during the third quarter worth about $29,000. Finally, Riverview Trust Co acquired a new stake in First Solar during the first quarter worth about $32,000. Institutional investors and hedge funds own 92.08% of the company’s stock.

First Solar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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