Mizuho Raises First Solar (NASDAQ:FSLR) Price Target to $278.00

First Solar (NASDAQ:FSLR) had its price target boosted by analysts at Mizuho from $275.00 to $278.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the solar cell manufacturer’s stock. Mizuho’s price target points to a potential upside of 61.69% from the stock’s current price.

A number of other equities research analysts have also issued reports on the company. BMO Capital Markets cut their target price on First Solar from $200.00 to $187.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 30th. Barclays lowered their price target on First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Wells Fargo & Company lowered their target price on First Solar from $191.00 to $177.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 30th. Jefferies Financial Group upgraded First Solar from a “hold” rating to a “buy” rating and upped their price target for the stock from $157.00 to $192.00 in a research note on Wednesday, June 11th. Finally, Robert W. Baird cut their price objective on First Solar from $267.00 to $240.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-four have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $228.87.

First Solar Stock Up 6.9%

Shares of NASDAQ:FSLR opened at $171.93 on Monday. The stock’s 50-day moving average price is $161.74 and its two-hundred day moving average price is $153.83. The company has a current ratio of 1.93, a quick ratio of 1.39 and a debt-to-equity ratio of 0.04. First Solar has a 12-month low of $116.56 and a 12-month high of $262.72. The firm has a market cap of $18.44 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 0.32 and a beta of 1.52.

First Solar (NASDAQ:FSLR) last released its quarterly 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 return on equity of 16.32% and a net margin of 29.72%. The company had revenue of $844.57 million during the quarter, compared to analysts’ expectations of $863.11 million. During the same quarter in the prior year, the company earned $2.20 EPS. The firm’s revenue was up 6.4% compared to the same quarter last year. On average, research analysts forecast that First Solar will post 13.05 EPS for the current year.

Insider Activity

In other First Solar news, insider Michael Koralewski sold 2,951 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $158.21, for a total value of $466,877.71. Following the completion of the sale, the insider directly owned 11,369 shares of the company’s stock, valued at $1,798,689.49. This trade represents a 20.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Patrick James Buehler sold 1,868 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $149.08, for a total value of $278,481.44. Following the completion of the transaction, the insider directly owned 5,998 shares of the company’s stock, valued at $894,181.84. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,976 shares of company stock valued at $2,515,172 in the last ninety days. 0.48% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of First Solar by 3.0% in the 1st quarter. Vanguard Group Inc. now owns 13,200,342 shares of the solar cell manufacturer’s stock valued at $1,668,919,000 after acquiring an additional 378,641 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of First Solar by 17.2% in the 1st quarter. Wellington Management Group LLP now owns 2,765,303 shares of the solar cell manufacturer’s stock valued at $349,617,000 after acquiring an additional 405,457 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of First Solar by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 2,666,242 shares of the solar cell manufacturer’s stock valued at $469,154,000 after acquiring an additional 63,739 shares during the last quarter. Invesco Ltd. lifted its holdings in shares of First Solar by 32.3% in the 1st quarter. Invesco Ltd. now owns 2,427,500 shares of the solar cell manufacturer’s stock valued at $306,909,000 after acquiring an additional 592,444 shares during the last quarter. Finally, Norges Bank purchased a new stake in First Solar in the 4th quarter worth about $317,399,000. Institutional investors own 92.08% of the company’s stock.

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.