First Solar (NASDAQ:FSLR) Given New $209.00 Price Target at Mizuho

First Solar (NASDAQ:FSLR) had its price objective hoisted by Mizuho from $196.00 to $209.00 in a research report sent to investors on Thursday, Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

Several other research firms have also issued reports on FSLR. Wells Fargo & Company upgraded First Solar from an equal weight rating to an overweight rating and upped their price objective for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Roth Mkm reaffirmed a buy rating and issued a $230.00 target price on shares of First Solar in a research report on Thursday, April 18th. Susquehanna reaffirmed a positive rating and issued a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. DZ Bank assumed coverage on First Solar in a research report on Wednesday, April 17th. They issued a buy rating and a $205.00 target price on the stock. Finally, Evercore ISI raised First Solar from an in-line rating to an outperform rating and set a $227.00 target price on the stock in a research report on Tuesday, April 23rd. Three investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $238.16.

First Solar Stock Performance

FSLR opened at $191.55 on Thursday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. The business’s 50-day simple moving average is $166.57 and its 200 day simple moving average is $158.28. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37. First Solar has a 52-week low of $129.21 and a 52-week high of $232.00.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. The firm had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business’s revenue for the quarter was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.40 earnings per share. As a group, sell-side analysts expect that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other news, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction that occurred on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Kuntal Kumar Verma sold 250 shares of the firm’s stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the transaction, the insider now directly owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares in the company, valued at approximately $6,584,512. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is currently owned by insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently made changes to their positions in FSLR. Commonwealth Equity Services LLC lifted its stake in shares of First Solar by 15.4% in the third quarter. Commonwealth Equity Services LLC now owns 32,365 shares of the solar cell manufacturer’s stock worth $5,230,000 after acquiring an additional 4,327 shares during the period. Chevy Chase Trust Holdings LLC lifted its stake in shares of First Solar by 5.1% in the third quarter. Chevy Chase Trust Holdings LLC now owns 60,051 shares of the solar cell manufacturer’s stock worth $9,704,000 after acquiring an additional 2,898 shares during the period. Xponance Inc. lifted its stake in shares of First Solar by 7.6% in the third quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock worth $2,403,000 after acquiring an additional 1,045 shares during the period. Independent Advisor Alliance lifted its stake in First Solar by 46.7% in the third quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock valued at $272,000 after buying an additional 537 shares during the period. Finally, Brown Advisory Inc. lifted its stake in First Solar by 78.4% in the third quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock valued at $405,000 after buying an additional 1,102 shares during the period. 92.08% of the stock is currently owned by institutional investors.

About First Solar

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.