First Solar (NASDAQ:FSLR) Price Target Raised to $255.00 at The Goldman Sachs Group

First Solar (NASDAQ:FSLR) had its price objective upped by The Goldman Sachs Group from $204.00 to $255.00 in a research report sent to investors on Monday morning,Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

Several other equities research analysts have also issued reports on FSLR. Barclays reduced their target price on shares of First Solar from $236.00 to $204.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Piper Sandler dropped their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a report on Monday, April 21st. Wells Fargo & Company decreased their price target on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a report on Wednesday, April 30th. Mizuho upgraded First Solar from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $218.00 to $259.00 in a research report on Tuesday, February 11th. Finally, Morgan Stanley set a $223.00 price target on First Solar and gave the stock an “overweight” rating in a report on Wednesday, April 23rd. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $226.30.

First Solar Trading Down 7.6%

NASDAQ:FSLR opened at $164.92 on Monday. The company has a market cap of $17.69 billion, a PE ratio of 14.21, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company has a current ratio of 2.14, a quick ratio of 1.44 and a debt-to-equity ratio of 0.05. The company has a 50 day simple moving average of $135.55 and a two-hundred day simple moving average of $162.64. First Solar has a 12 month low of $116.56 and a 12 month high of $306.77.

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

Insiders Place Their Bets

In other First Solar news, CEO Mark R. Widmar sold 21,542 shares of the stock in a transaction on 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 sale, the chief executive officer now 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Georges Antoun sold 229 shares of the firm’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 $30,628.75. Following the sale, the insider now directly owns 52,836 shares in the company, 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 ninety days, insiders sold 34,311 shares of company stock worth $4,767,158. 0.48% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Garde Capital Inc. purchased a new position in shares of First Solar during the first quarter worth $25,000. Wealth Preservation Advisors LLC acquired a new stake in First Solar during the first quarter worth about $25,000. Larson Financial Group LLC lifted its holdings in First Solar by 591.9% in the first quarter. Larson Financial Group LLC now owns 256 shares of the solar cell manufacturer’s stock valued at $32,000 after acquiring an additional 219 shares during the period. Colonial Trust Advisors acquired a new stake in shares of First Solar during the 1st quarter worth approximately $32,000. Finally, Abound Financial LLC purchased a new stake in First Solar during the first quarter worth $45,000. 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.