Robert W. Baird Raises First Solar (NASDAQ:FSLR) Price Target to $119.00

First Solar (NASDAQ:FSLRGet Rating) had its price target upped by Robert W. Baird from $98.00 to $119.00 in a research note issued to investors on Friday, The Fly reports.

Several other equities research analysts have also recently issued reports on FSLR. JPMorgan Chase & Co. raised their target price on First Solar from $73.00 to $83.00 and gave the stock a maintains rating in a research note on Friday. StockNews.com began coverage on First Solar in a research note on Thursday, March 31st. They issued a sell rating for the company. Roth Capital lifted their price objective on First Solar from $78.00 to $85.00 in a research note on Friday, April 29th. Morgan Stanley dropped their price objective on First Solar from $62.00 to $54.00 and set an underweight rating for the company in a research note on Monday, June 13th. Finally, Oppenheimer raised First Solar from a market perform rating to an outperform rating and set a $116.00 price objective for the company in a research note on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $94.87.

First Solar Price Performance

FSLR stock opened at $99.49 on Friday. The business has a fifty day moving average of $70.20 and a two-hundred day moving average of $73.01. The company has a quick ratio of 3.20, a current ratio of 4.21 and a debt-to-equity ratio of 0.03. 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. First Solar has a 52-week low of $59.60 and a 52-week high of $123.13.

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

Insider Activity

In other news, insider Michael Koralewski sold 1,007 shares of the business’s stock in a transaction dated 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 Securities & Exchange Commission, which is available through this hyperlink. In other news, Director R Craig Kennedy sold 600 shares of the business’s stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $62.50, for a total value of $37,500.00. Following the completion of the sale, the director now directly owns 20,397 shares of the company’s stock, valued at approximately $1,274,812.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Koralewski sold 1,007 shares of the company’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $100.00, for a total value of $100,700.00. The disclosure for this sale can be found here. In the last three months, insiders sold 55,131 shares of company stock valued at $4,606,429. Insiders own 0.54% of the company’s stock.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Clearstead Advisors LLC raised its stake in First Solar by 22,940.0% during the 1st quarter. Clearstead Advisors LLC now owns 2,304 shares of the solar cell manufacturer’s stock valued at $193,000 after acquiring an additional 2,294 shares during the last quarter. KBC Group NV raised its stake in First Solar by 5.7% during the 4th quarter. KBC Group NV now owns 24,862 shares of the solar cell manufacturer’s stock valued at $2,167,000 after acquiring an additional 1,331 shares during the last quarter. Cullen Frost Bankers Inc. purchased a new stake in First Solar during the 4th quarter valued at approximately $26,000. Inspire Investing LLC purchased a new stake in First Solar during the 1st quarter valued at approximately $287,000. Finally, HighTower Advisors LLC increased its position in First Solar by 3.8% during the 4th quarter. HighTower Advisors LLC now owns 86,586 shares of the solar cell manufacturer’s stock worth $7,598,000 after purchasing an additional 3,185 shares during the period. 75.42% of the stock is owned by hedge funds and other institutional investors.

About First Solar

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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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