First Solar (NASDAQ:FSLR) Price Target Raised to $135.00

First Solar (NASDAQ:FSLRGet Rating) had its price target hoisted by Roth Capital from $85.00 to $135.00 in a research report sent to investors on Friday, The Fly reports.

A number of other research firms have also recently weighed in on FSLR. StockNews.com initiated coverage on First Solar in a report on Thursday, March 31st. They set a sell rating for the company. Bank of America raised their price target on First Solar from $62.00 to $63.00 and gave the company an underperform rating in a report on Monday, July 18th. JPMorgan Chase & Co. increased their target price on First Solar from $73.00 to $83.00 and gave the stock a maintains rating in a report on Friday. Piper Sandler upgraded shares of First Solar from a neutral rating to an overweight rating and raised their target price for the company from $80.00 to $90.00 in a research report on Thursday, May 12th. Finally, Credit Suisse Group lowered their target price on shares of First Solar to $77.00 in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $94.87.

First Solar Trading Up 0.3 %

Shares of FSLR stock opened at $99.49 on Friday. The stock has a market cap of $10.60 billion, a price-to-earnings ratio of 56.53, a price-to-earnings-growth ratio of 71.94 and a beta of 1.49. The firm’s 50 day moving average price is $70.20 and its two-hundred day moving average price is $73.01. First Solar has a fifty-two week low of $59.60 and a fifty-two week high of $123.13. The company has a quick ratio of 3.20, a current ratio of 4.21 and a debt-to-equity ratio of 0.03.

First Solar (NASDAQ:FSLRGet Rating) last released its quarterly earnings results on Thursday, July 28th. The solar cell manufacturer reported $0.52 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.09). First Solar had a net margin of 7.63% and a return on equity of 3.21%. The business had revenue of $621.00 million for the quarter, compared to the consensus estimate of $606.45 million. During the same period last year, the firm posted $0.77 EPS. The business’s quarterly revenue was down 1.3% on a year-over-year basis. On average, analysts anticipate that First Solar will post 0.09 EPS for the current year.

Insider Buying and Selling

In other news, insider Michael Koralewski sold 1,007 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $100.00, for a total value of $100,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other First Solar news, insider Michael Koralewski sold 1,007 shares of the firm’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $100.00, for a total transaction of $100,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Mark R. Widmar sold 13,648 shares of the stock in a transaction on Friday, May 6th. The stock was sold at an average price of $75.28, for a total value of $1,027,421.44. Following the sale, the chief executive officer now directly owns 114,100 shares in the company, valued at $8,589,448. The disclosure for this sale can be found here. Insiders sold 55,131 shares of company stock worth $4,606,429 in the last 90 days. 0.54% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Solar

Hedge funds have recently made changes to their positions in the stock. BlackRock Inc. increased its holdings in First Solar by 4.7% in the 1st quarter. BlackRock Inc. now owns 14,234,653 shares of the solar cell manufacturer’s stock worth $1,192,010,000 after buying an additional 636,492 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Solar by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 9,171,019 shares of the solar cell manufacturer’s stock valued at $767,981,000 after buying an additional 68,131 shares in the last quarter. State Street Corp grew its holdings in First Solar by 1.9% during the 1st quarter. State Street Corp now owns 3,230,644 shares of the solar cell manufacturer’s stock valued at $270,534,000 after purchasing an additional 60,266 shares during the last quarter. Norges Bank purchased a new stake in First Solar in the 4th quarter valued at about $197,428,000. Finally, Schroder Investment Management Group raised its holdings in shares of First Solar by 3.4% in the 4th quarter. Schroder Investment Management Group now owns 1,531,030 shares of the solar cell manufacturer’s stock valued at $133,445,000 after purchasing an additional 50,029 shares in the last quarter. 75.42% of the stock is currently owned by hedge funds and other institutional investors.

First Solar Company Profile

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First Solar, Inc provides photovoltaic (PV) solar energy solutions in the United State, Japan, France, Canada, India, Australia, and internationally. The company designs, manufactures, and sells cadmium telluride solar modules that converts sunlight into electricity. It serves developers and operators of systems, utilities, independent power producers, commercial and industrial companies, and other system owners.

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