BMO Capital Markets Increases First Solar (NASDAQ:FSLR) Price Target to $237.00

First Solar (NASDAQ:FSLR) had its price objective upped by BMO Capital Markets from $235.00 to $237.00 in a report issued on Monday, Marketbeat reports. The brokerage currently has an “outperform” rating on the solar cell manufacturer’s stock. BMO Capital Markets’ price objective indicates a potential upside of 39.00% from the company’s current price.

Several other equities research analysts have also weighed in on FSLR. Roth Capital restated a “buy” rating and set a $230.00 price target on shares of First Solar in a research report on Friday, September 8th. TheStreet raised First Solar from a “c” rating to a “b-” rating in a report on Thursday, July 27th. Guggenheim dropped their target price on First Solar from $334.00 to $332.00 and set a “buy” rating on the stock in a report on Friday, July 28th. Deutsche Bank Aktiengesellschaft raised First Solar from a “hold” rating to a “buy” rating and boosted their target price for the stock from $220.00 to $235.00 in a report on Friday, September 8th. Finally, Robert W. Baird boosted their target price on First Solar from $229.00 to $246.00 in a report on Friday, September 8th. Nine equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $232.62.

First Solar Trading Down 5.8 %

NASDAQ FSLR opened at $170.50 on Monday. The company has a quick ratio of 2.66, a current ratio of 3.36 and a debt-to-equity ratio of 0.07. First Solar has a twelve month low of $115.66 and a twelve month high of $232.00. The firm has a market capitalization of $18.21 billion, a PE ratio of 116.78 and a beta of 1.40. The stock’s 50 day moving average is $191.38 and its 200 day moving average is $196.80.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Thursday, July 27th. The solar cell manufacturer reported $1.85 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.90. First Solar had a return on equity of 3.13% and a net margin of 5.23%. The company had revenue of $810.67 million for the quarter, compared to analyst estimates of $720.43 million. Research analysts forecast that First Solar will post 7.92 earnings per share for the current fiscal year.

Insider Buying and Selling at First Solar

In other First Solar news, insider Kuntal Kumar Verma sold 3,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $187.52, for a total value of $562,560.00. Following the completion of the sale, the insider now directly owns 3,242 shares in the company, valued at approximately $607,939.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other First Solar news, insider Kuntal Kumar Verma sold 3,000 shares of the company’s stock in a transaction on Monday, July 10th. The stock was sold at an average price of $187.52, for a total value of $562,560.00. Following the completion of the sale, the insider now directly owns 3,242 shares in the company, valued at approximately $607,939.84. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Mark R. Widmar sold 3,982 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $205.00, for a total value of $816,310.00. Following the completion of the sale, the chief executive officer now owns 86,181 shares of the company’s stock, valued at $17,667,105. The disclosure for this sale can be found here. Insiders sold a total of 34,452 shares of company stock worth $6,833,334 in the last three months. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

A number of hedge funds have recently modified their holdings of the business. Advisory Services Network LLC grew its holdings in shares of First Solar by 5.2% during the 1st quarter. Advisory Services Network LLC now owns 996 shares of the solar cell manufacturer’s stock worth $217,000 after purchasing an additional 49 shares during the period. Shay Capital LLC boosted its holdings in First Solar by 1.5% during the 2nd quarter. Shay Capital LLC now owns 3,551 shares of the solar cell manufacturer’s stock valued at $675,000 after acquiring an additional 51 shares during the period. Balentine LLC boosted its holdings in First Solar by 2.7% during the 2nd quarter. Balentine LLC now owns 1,970 shares of the solar cell manufacturer’s stock valued at $374,000 after acquiring an additional 51 shares during the period. Keybank National Association OH boosted its holdings in First Solar by 1.2% during the 2nd quarter. Keybank National Association OH now owns 4,989 shares of the solar cell manufacturer’s stock valued at $948,000 after acquiring an additional 60 shares during the period. Finally, Apollon Wealth Management LLC boosted its holdings in First Solar by 2.0% during the 1st quarter. Apollon Wealth Management LLC now owns 3,104 shares of the solar cell manufacturer’s stock valued at $675,000 after acquiring an additional 60 shares during the period. 82.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

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.