First Solar (NASDAQ:FSLR) Given New $240.00 Price Target at UBS Group

First Solar (NASDAQ:FSLR) had its price target decreased by UBS Group from $285.00 to $240.00 in a research report released on Monday morning,Benzinga reports. UBS Group currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of a number of other research reports. Roth Mkm reaffirmed a “buy” rating and set a $280.00 price target on shares of First Solar in a report on Wednesday, February 26th. Citigroup reduced their price target on First Solar from $254.00 to $236.00 and set a “neutral” rating on the stock in a report on Wednesday, February 26th. StockNews.com upgraded shares of First Solar from a “sell” rating to a “hold” rating in a research report on Thursday, January 2nd. Bank of America cut their price target on shares of First Solar from $236.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Finally, Mizuho raised First Solar from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $218.00 to $259.00 in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $252.75.

First Solar Trading Up 4.2 %

Shares of NASDAQ:FSLR opened at $131.26 on Monday. The stock has a market cap of $14.05 billion, a PE ratio of 11.31, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a quick ratio of 1.44, a current ratio of 2.14 and a debt-to-equity ratio of 0.05. First Solar has a 12-month low of $116.56 and a 12-month high of $306.77. The business has a 50 day moving average of $139.20 and a 200-day moving average of $174.76.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 25th. The solar cell manufacturer reported $3.65 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.81 by ($1.16). First Solar had a net margin of 32.41% and a return on equity of 17.56%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.48 billion. As a group, equities research analysts forecast that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In other news, CEO Mark R. Widmar sold 21,542 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $141.09, for a total transaction of $3,039,360.78. Following the transaction, the chief executive officer now directly owns 103,403 shares of the company’s stock, valued at approximately $14,589,129.27. This trade represents a 17.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Markus Gloeckler sold 380 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $133.75, for a total value of $50,825.00. Following the completion of the sale, the chief technology officer now directly owns 17,594 shares of the company’s stock, valued at approximately $2,353,197.50. This trade represents a 2.11 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,311 shares of company stock valued at $4,767,158. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

A number of large investors have recently made changes to their positions in the business. Virtu Financial LLC boosted its stake in shares of First Solar by 38.5% during the 3rd quarter. Virtu Financial LLC now owns 8,041 shares of the solar cell manufacturer’s stock valued at $2,006,000 after purchasing an additional 2,235 shares in the last quarter. Morse Asset Management Inc lifted its stake in shares of First Solar by 10.7% in the 3rd quarter. Morse Asset Management Inc now owns 12,449 shares of the solar cell manufacturer’s stock valued at $3,105,000 after purchasing an additional 1,199 shares during the period. Blankinship & Foster LLC bought a new stake in shares of First Solar during the third quarter valued at approximately $935,000. Peapack Gladstone Financial Corp raised its holdings in First Solar by 33.3% in the third quarter. Peapack Gladstone Financial Corp now owns 24,553 shares of the solar cell manufacturer’s stock worth $6,125,000 after purchasing an additional 6,135 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in First Solar by 10.4% during the third quarter. Franklin Resources Inc. now owns 131,634 shares of the solar cell manufacturer’s stock valued at $32,835,000 after buying an additional 12,439 shares during the period. 92.08% of the stock is currently owned by institutional investors.

First Solar Company Profile

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.