First Solar (FSLR) PT Set at $69.00 by J P Morgan Chase & Co

First Solar (NASDAQ:FSLR) received a $69.00 target price from stock analysts at J P Morgan Chase & Co in a report issued on Monday. The firm presently has a “hold” rating on the solar cell manufacturer’s stock. J P Morgan Chase & Co’s target price points to a potential downside of 2.31% from the stock’s current price.

FSLR has been the topic of a number of other research reports. Goldman Sachs Group restated a “neutral” rating and set a $65.00 target price (up previously from $50.00) on shares of First Solar in a research note on Thursday, November 30th. Vetr upgraded shares of First Solar from a “buy” rating to a “strong-buy” rating and set a $53.04 target price on the stock in a research note on Wednesday, October 11th. Deutsche Bank upgraded shares of First Solar from a “hold” rating to a “buy” rating and lifted their target price for the company from $50.00 to $65.00 in a research note on Friday, September 15th. Axiom Securities restated a “buy” rating on shares of First Solar in a research note on Thursday, August 24th. Finally, Needham & Company LLC upgraded shares of First Solar from a “hold” rating to a “buy” rating and set a $60.00 target price on the stock in a research note on Friday, October 27th. Eleven research analysts have rated the stock with a hold rating, nine have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.53.

Shares of First Solar (FSLR) traded up $1.67 during mid-day trading on Monday, hitting $70.63. 1,300,349 shares of the stock were exchanged, compared to its average volume of 2,781,069. First Solar has a 12-month low of $25.56 and a 12-month high of $71.80. The company has a debt-to-equity ratio of 0.06, a quick ratio of 6.47 and a current ratio of 6.85. The company has a market cap of $7,201.70, a P/E ratio of 16.90 and a beta of 2.03.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Thursday, October 26th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $1.11. First Solar had a negative net margin of 14.70% and a positive return on equity of 8.07%. The firm had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $859.22 million. During the same quarter in the previous year, the firm posted $1.22 EPS. The company’s revenue for the quarter was up 59.5% compared to the same quarter last year. sell-side analysts expect that First Solar will post 2.52 earnings per share for the current fiscal year.

In other First Solar news, CEO Mark R. Widmar sold 20,270 shares of the business’s stock in a transaction on Thursday, December 7th. The shares were sold at an average price of $64.40, for a total value of $1,305,388.00. Following the sale, the chief executive officer now owns 100,754 shares in the company, valued at approximately $6,488,557.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.58% of the stock is owned by insiders.

A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado lifted its stake in First Solar by 1.1% in the 2nd quarter. Public Employees Retirement Association of Colorado now owns 15,100 shares of the solar cell manufacturer’s stock worth $602,000 after purchasing an additional 165 shares in the last quarter. Intellectus Partners LLC increased its holdings in shares of First Solar by 1.2% in the 2nd quarter. Intellectus Partners LLC now owns 17,450 shares of the solar cell manufacturer’s stock worth $696,000 after buying an additional 200 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of First Solar by 0.8% in the 2nd quarter. Alliancebernstein L.P. now owns 47,767 shares of the solar cell manufacturer’s stock worth $1,905,000 after buying an additional 360 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of First Solar by 4.9% in the 2nd quarter. Pacer Advisors Inc. now owns 10,117 shares of the solar cell manufacturer’s stock worth $403,000 after buying an additional 470 shares during the last quarter. Finally, Arizona State Retirement System increased its holdings in shares of First Solar by 1.5% in the 2nd quarter. Arizona State Retirement System now owns 33,000 shares of the solar cell manufacturer’s stock worth $1,316,000 after buying an additional 500 shares during the last quarter. Institutional investors and hedge funds own 51.21% of the company’s stock.

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First Solar Company Profile

First Solar, Inc is a provider of photovoltaic (PV) solar energy solutions. The Company designs, manufactures and sells PV solar modules with a thin-film semiconductor technology. The Company also develops, designs, constructs and sells PV solar power systems that primarily use the modules it manufactures.