First Solar (NASDAQ:FSLR) Price Target Raised to $261.00 at Argus

First Solar (NASDAQ:FSLR – Get Rating) had its target price raised by Argus from $176.00 to $261.00 in a research report report published on Tuesday morning, The Fly reports.

A number of other research firms also recently issued reports on FSLR. UBS Group upgraded shares of First Solar from a neutral rating to a buy rating and lifted their price objective for the company from $140.00 to $250.00 in a report on Friday, March 3rd. Cowen boosted their target price on shares of First Solar from $195.00 to $205.00 in a report on Wednesday, March 1st. Morgan Stanley boosted their target price on shares of First Solar from $146.00 to $194.00 and gave the stock an equal weight rating in a report on Tuesday, January 10th. Citigroup boosted their target price on shares of First Solar from $75.00 to $220.00 and gave the stock a neutral rating in a report on Friday, March 10th. Finally, Daiwa Capital Markets assumed coverage on shares of First Solar in a report on Friday, December 23rd. They set an outperform rating and a $175.00 target price on the stock. Seven equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus price target of $199.92.

First Solar Stock Performance

Shares of FSLR stock opened at $207.29 on Tuesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 3.05 and a current ratio of 3.65. First Solar has a 52 week low of $59.60 and a 52 week high of $218.25. The company has a market capitalization of $22.10 billion, a P/E ratio of -494.85 and a beta of 1.36. The company’s 50 day moving average price is $174.81 and its two-hundred day moving average price is $154.69.

First Solar (NASDAQ:FSLR – Get Rating) last posted its quarterly earnings data on Tuesday, February 28th. The solar cell manufacturer reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.11. First Solar had a negative net margin of 1.69% and a negative return on equity of 0.75%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $1 billion. During the same period last year, the company earned $1.23 earnings per share. The firm’s revenue was up 10.5% compared to the same quarter last year. On average, analysts expect that First Solar will post 7.17 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Mark R. Widmar sold 26,553 shares of the company’s stock in a transaction dated Friday, March 3rd. The shares were sold at an average price of $206.70, for a total transaction of $5,488,505.10. Following the completion of the sale, the chief executive officer now owns 108,413 shares of the company’s stock, valued at $22,408,967.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other First Solar news, CEO Mark R. Widmar sold 26,553 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $206.70, for a total transaction of $5,488,505.10. Following the completion of the transaction, the chief executive officer now owns 108,413 shares of the company’s stock, valued at $22,408,967.10. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Byron Michael Jeffers sold 1,281 shares of the company’s stock in a transaction that occurred on Tuesday, March 7th. The shares were sold at an average price of $212.50, for a total value of $272,212.50. The disclosure for this sale can be found here. Insiders sold 37,909 shares of company stock valued at $7,870,618 over the last quarter. 0.54% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of First Solar by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 9,457,489 shares of the solar cell manufacturer’s stock valued at $1,250,942,000 after purchasing an additional 136,323 shares during the last quarter. State Street Corp increased its holdings in First Solar by 1.9% in the 1st quarter. State Street Corp now owns 3,230,644 shares of the solar cell manufacturer’s stock worth $270,534,000 after acquiring an additional 60,266 shares during the last quarter. Geode Capital Management LLC increased its holdings in First Solar by 55.7% in the 4th quarter. Geode Capital Management LLC now owns 2,180,340 shares of the solar cell manufacturer’s stock worth $326,050,000 after acquiring an additional 780,028 shares during the last quarter. FMR LLC increased its holdings in First Solar by 13.3% in the 2nd quarter. FMR LLC now owns 1,773,414 shares of the solar cell manufacturer’s stock worth $120,822,000 after acquiring an additional 208,322 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in First Solar by 8.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,655,227 shares of the solar cell manufacturer’s stock worth $218,933,000 after acquiring an additional 131,174 shares during the last quarter. 80.97% of the stock is owned by hedge funds and other institutional investors.

First Solar Company Profile

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First Solar, Inc engages in designing, manufacturing, marketing, and the distribution of photovoltaic solar power systems and solar modules. It operates through the Modules and Systems segments. The Modules segment involves the design, manufacture, and sale of cadmium telluride solar modules, which convert sunlight into electricity.