First Solar (NASDAQ:FSLR) PT Raised to $209.00 at Mizuho

First Solar (NASDAQ:FSLR) had its price target boosted by Mizuho from $196.00 to $209.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other research analysts have also recently commented on the company. Oppenheimer reaffirmed an outperform rating and set a $269.00 target price on shares of First Solar in a research note on Wednesday, April 17th. Wells Fargo & Company raised First Solar from an equal weight rating to an overweight rating and upped their target price for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Roth Mkm reaffirmed a buy rating and set a $230.00 target price on shares of First Solar in a research note on Thursday, April 18th. Bank of America increased their price objective on First Solar from $187.00 to $194.00 and gave the stock a buy rating in a research note on Wednesday, April 10th. Finally, Royal Bank of Canada reissued an outperform rating and issued a $195.00 price objective on shares of First Solar in a research note on Wednesday, February 28th. Three investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $238.16.

First Solar Price Performance

NASDAQ:FSLR opened at $191.55 on Thursday. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $20.50 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.33 and a beta of 1.37. First Solar has a 12 month low of $129.21 and a 12 month high of $232.00. The business’s 50-day moving average is $166.57 and its 200 day moving average is $158.28.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The business had revenue of $794.10 million for the quarter, compared to the consensus estimate of $718.19 million. During the same period in the prior year, the business posted $0.40 earnings per share. The company’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, equities research analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity

In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the sale, the director now directly owns 15,641 shares in the company, valued at approximately $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director R Craig Kennedy sold 1,500 shares of First Solar stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the sale, the director now owns 15,641 shares in the company, valued at approximately $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock valued at $4,269,540 in the last quarter. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Commonwealth Equity Services LLC lifted its position in shares of First Solar by 15.4% during the third quarter. Commonwealth Equity Services LLC now owns 32,365 shares of the solar cell manufacturer’s stock worth $5,230,000 after purchasing an additional 4,327 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its holdings in First Solar by 5.1% during the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 60,051 shares of the solar cell manufacturer’s stock worth $9,704,000 after buying an additional 2,898 shares in the last quarter. Xponance Inc. boosted its position in First Solar by 7.6% in the 3rd quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock valued at $2,403,000 after buying an additional 1,045 shares during the period. Independent Advisor Alliance boosted its position in First Solar by 46.7% in the 3rd quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock valued at $272,000 after buying an additional 537 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of First Solar by 78.4% in the third quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock worth $405,000 after acquiring an additional 1,102 shares in the last quarter. 92.08% of the stock is currently owned by hedge funds and other institutional investors.

About First Solar

First Solar, Inc, a solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, Japan, Chile, and internationally. The company manufactures and sells PV solar modules with a thin film semiconductor technology that provides a lower-carbon alternative to conventional crystalline silicon PV solar modules.