BMO Capital Markets Cuts First Solar (NASDAQ:FSLR) Price Target to $187.00

First Solar (NASDAQ:FSLR) had its price objective decreased by BMO Capital Markets from $200.00 to $187.00 in a research report report published on Wednesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the solar cell manufacturer’s stock.

FSLR has been the topic of a number of other research reports. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their price target for the company from $218.00 to $259.00 in a research note on Tuesday, February 11th. Susquehanna cut their target price on shares of First Solar from $223.00 to $217.00 and set a “positive” rating for the company in a research note on Monday, April 14th. UBS Group decreased their price target on shares of First Solar from $285.00 to $240.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Truist Financial reissued a “buy” rating and issued a $245.00 price target (down from $285.00) on shares of First Solar in a report on Wednesday, April 2nd. Finally, TD Cowen reduced their price objective on First Solar from $275.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $223.87.

First Solar Stock Performance

Shares of FSLR stock opened at $130.54 on Wednesday. The company has a fifty day moving average price of $131.03 and a two-hundred day moving average price of $166.38. First Solar has a one year low of $116.56 and a one year high of $306.77. The stock has a market cap of $14.00 billion, a P/E ratio of 11.24, a P/E/G ratio of 0.19 and a beta of 1.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 2.14 and a quick ratio of 1.44.

First Solar (NASDAQ:FSLR) last issued its earnings results on Tuesday, April 29th. The solar cell manufacturer reported $1.95 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.50 by ($0.55). The firm had revenue of $844.57 million during the quarter, compared to analyst estimates of $863.11 million. First Solar had a net margin of 32.41% and a return on equity of 17.56%. The company’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same quarter last year, the business posted $2.20 earnings per share. As a group, equities analysts predict that First Solar will post 13.05 EPS for the current year.

Insider Transactions at First Solar

In related news, CEO Mark R. Widmar sold 1,966 shares of First Solar stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $262,952.50. Following the sale, the chief executive officer now directly owns 111,890 shares of the company’s stock, valued at approximately $14,965,287.50. The trade was a 1.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Georges Antoun sold 229 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $133.75, for a total transaction of $30,628.75. Following the completion of the transaction, the insider now directly owns 52,836 shares of the company’s stock, valued at approximately $7,066,815. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,311 shares of company stock valued at $4,767,158. Corporate insiders own 0.48% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of FSLR. Norges Bank bought a new stake in First Solar during the 4th quarter worth $317,399,000. Demars Financial Group LLC grew its holdings in shares of First Solar by 17,404.5% during the fourth quarter. Demars Financial Group LLC now owns 722,760 shares of the solar cell manufacturer’s stock worth $127,379,000 after purchasing an additional 718,631 shares during the last quarter. Mirova US LLC increased its stake in shares of First Solar by 961.0% in the fourth quarter. Mirova US LLC now owns 646,310 shares of the solar cell manufacturer’s stock valued at $113,906,000 after buying an additional 585,394 shares during the period. Amundi raised its holdings in First Solar by 31.0% in the 4th quarter. Amundi now owns 1,805,244 shares of the solar cell manufacturer’s stock valued at $336,871,000 after buying an additional 426,797 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in First Solar by 218.6% during the 4th quarter. Royal Bank of Canada now owns 446,799 shares of the solar cell manufacturer’s stock worth $78,744,000 after buying an additional 306,581 shares during the period. 92.08% of the stock is currently owned by institutional investors and hedge funds.

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.