First Solar (NASDAQ:FSLR) Given New $302.00 Price Target at The Goldman Sachs Group

First Solar (NASDAQ:FSLRFree Report) had its target price hoisted by The Goldman Sachs Group from $268.00 to $302.00 in a report released on Tuesday morning, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

A number of other research firms have also weighed in on FSLR. Morgan Stanley upped their target price on shares of First Solar from $248.00 to $331.00 and gave the stock an overweight rating in a report on Tuesday. Oppenheimer raised their price objective on shares of First Solar from $269.00 to $271.00 and gave the stock an outperform rating in a report on Thursday, May 2nd. Evercore ISI raised shares of First Solar from an in-line rating to an outperform rating and set a $227.00 price objective for the company in a report on Tuesday, April 23rd. Jefferies Financial Group raised their price target on shares of First Solar from $209.50 to $211.00 and gave the company a buy rating in a report on Thursday, May 2nd. Finally, UBS Group raised their price target on shares of First Solar from $270.00 to $350.00 and gave the company a buy rating in a report on Wednesday, May 29th. Four equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, First Solar has an average rating of Moderate Buy and a consensus price target of $255.84.

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First Solar Trading Down 2.4 %

Shares of First Solar stock opened at $266.17 on Tuesday. The firm has a 50-day moving average of $199.55 and a 200-day moving average of $171.11. The stock has a market cap of $28.49 billion, a PE ratio of 27.90, a PEG ratio of 0.36 and a beta of 1.47. First Solar has a 52-week low of $129.21 and a 52-week high of $286.60. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.86 and a current ratio of 2.41.

First Solar (NASDAQ:FSLRGet Free Report) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm’s revenue was up 44.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.40 earnings per share. As a group, sell-side analysts forecast that First Solar will post 13.55 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, Director Richard D. Chapman sold 3,165 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $190.48, for a total transaction of $602,869.20. Following the completion of the transaction, the director now directly owns 1,045 shares in the company, valued at approximately $199,051.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of the business’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at $766,917.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard D. Chapman sold 3,165 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $190.48, for a total value of $602,869.20. Following the sale, the director now owns 1,045 shares in the company, valued at approximately $199,051.60. The disclosure for this sale can be found here. Insiders sold a total of 57,985 shares of company stock worth $13,559,316 in the last 90 days. 0.58% of the stock is owned by insiders.

Institutional Investors Weigh In On First Solar

Several large investors have recently made changes to their positions in FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar in the first quarter valued at $25,000. University of Texas Texas AM Investment Managment Co. bought a new stake in shares of First Solar during the fourth quarter worth $27,000. Estabrook Capital Management bought a new position in First Solar in the third quarter valued at about $29,000. Baystate Wealth Management LLC bought a new position in First Solar in the fourth quarter valued at about $29,000. Finally, Headinvest LLC bought a new position in First Solar during the third quarter worth about $30,000. Institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

(Get Free Report)

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.

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Analyst Recommendations for First Solar (NASDAQ:FSLR)

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