Mizuho Issues Positive Forecast for First Solar (NASDAQ:FSLR) Stock Price

First Solar (NASDAQ:FSLR) had its price target lifted by Mizuho from $251.00 to $275.00 in a research note published on Monday,Benzinga reports. The brokerage currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other research firms have also recently commented on FSLR. Morgan Stanley set a $223.00 target price on shares of First Solar and gave the stock an “overweight” rating in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their target price on shares of First Solar from $282.00 to $268.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 26th. Wolfe Research upgraded shares of First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 target price on the stock in a research note on Tuesday, May 13th. KeyCorp cut shares of First Solar from a “sector weight” rating to an “underweight” rating and set a $100.00 target price on the stock. in a research note on Wednesday, April 30th. Finally, Piper Sandler decreased their target price on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating on the stock in a research note on Monday, April 21st. Two analysts have rated the stock with a sell rating, five have given 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 MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $227.94.

First Solar Stock Performance

Shares of FSLR stock opened at $149.65 on Monday. First Solar has a one year low of $116.56 and a one year high of $306.77. The company’s 50-day moving average is $141.14 and its 200 day moving average is $160.01. The company has a market capitalization of $16.05 billion, a price-to-earnings ratio of 12.89, a price-to-earnings-growth ratio of 0.19 and a beta of 1.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.44 and a current ratio of 2.14.

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

Insider Transactions at First Solar

In related news, insider Georges Antoun sold 229 shares of First Solar stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $133.75, for a total value of $30,628.75. Following the completion of the sale, the insider now directly owns 52,836 shares in the company, valued at $7,066,815. The trade was a 0.43% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CTO Markus Gloeckler sold 9,557 shares of First Solar stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $155.05, for a total value of $1,481,812.85. Following the completion of the sale, the chief technology officer now owns 8,037 shares of the company’s stock, valued at $1,246,136.85. The trade was a 54.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,851 shares of company stock worth $2,188,525. 0.48% of the stock is currently owned by insiders.

Institutional Trading of First Solar

Institutional investors and hedge funds have recently made changes to their positions in the company. Garde Capital Inc. bought a new stake in shares of First Solar in the first quarter valued at about $25,000. Wealth Preservation Advisors LLC bought a new position in First Solar in the first quarter worth about $25,000. Larson Financial Group LLC raised 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 worth $32,000 after purchasing an additional 219 shares in the last quarter. Colonial Trust Advisors bought a new position in First Solar in the first quarter worth about $32,000. Finally, Abound Financial LLC bought a new position in First Solar in the first quarter worth about $45,000. 92.08% of the stock is currently owned by 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.