First Solar (NASDAQ:FSLR) Given New $203.00 Price Target at Susquehanna

First Solar (NASDAQ:FSLR) had its price target lifted by Susquehanna from $186.00 to $203.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a positive rating on the solar cell manufacturer’s stock.

FSLR has been the topic of several other reports. Barclays lowered their target price on First Solar from $236.00 to $204.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Piper Sandler dropped their price target on shares of First Solar from $230.00 to $205.00 and set an “overweight” rating for the company in a research report on Monday, April 21st. Mizuho lifted their price target on shares of First Solar from $275.00 to $278.00 and gave the company an “outperform” rating in a research note on Monday, July 14th. Wolfe Research upgraded First Solar from a “peer perform” rating to an “outperform” rating and set a $221.00 price target for the company in a report on Tuesday, May 13th. Finally, BMO Capital Markets decreased their target price on First Solar from $200.00 to $187.00 and set an “outperform” rating for the company in a research note on Wednesday, April 30th. Two analysts have rated the stock with a sell rating, four 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 an average rating of “Moderate Buy” and a consensus target price of $228.37.

First Solar Stock Performance

FSLR stock opened at $178.33 on Monday. First Solar has a twelve month low of $116.56 and a twelve month high of $262.72. The company has a quick ratio of 1.39, a current ratio of 1.93 and a debt-to-equity ratio of 0.04. The firm has a market cap of $19.12 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.34 and a beta of 1.52. The business’s fifty day simple moving average is $163.98 and its two-hundred day simple moving average is $153.50.

First Solar (NASDAQ:FSLR) last posted its quarterly earnings data 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 company had revenue of $844.57 million for the quarter, compared to the consensus estimate of $863.11 million. First Solar had a return on equity of 16.32% and a net margin of 29.72%. The business’s revenue for the quarter was up 6.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.20 EPS. Analysts predict that First Solar will post 13.05 earnings per share for the current year.

Insider Transactions at First Solar

In related news, insider Michael Koralewski sold 2,951 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $158.21, for a total value of $466,877.71. Following the transaction, the insider owned 11,369 shares of the company’s stock, valued at approximately $1,798,689.49. This trade represents a 20.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Patrick James Buehler sold 1,868 shares of the business’s stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $149.08, for a total transaction of $278,481.44. Following the completion of the transaction, the insider owned 5,998 shares in the company, valued at $894,181.84. The trade was a 23.75% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,976 shares of company stock worth $2,515,172. 0.48% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Solar

A number of large investors have recently added to or reduced their stakes in FSLR. Cromwell Holdings LLC increased its stake in shares of First Solar by 534.5% in the 2nd quarter. Cromwell Holdings LLC now owns 368 shares of the solar cell manufacturer’s stock valued at $61,000 after purchasing an additional 310 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in First Solar by 49.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,251 shares of the solar cell manufacturer’s stock worth $10,471,000 after purchasing an additional 20,884 shares during the period. J. Safra Sarasin Holding AG lifted its stake in shares of First Solar by 30.8% during the second quarter. J. Safra Sarasin Holding AG now owns 57,859 shares of the solar cell manufacturer’s stock worth $9,578,000 after buying an additional 13,618 shares during the period. Robeco Institutional Asset Management B.V. increased its stake in shares of First Solar by 12.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 141,503 shares of the solar cell manufacturer’s stock worth $23,424,000 after purchasing an additional 15,193 shares in the last quarter. Finally, First Pacific Financial purchased a new stake in shares of First Solar in the 2nd quarter valued at approximately $41,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.