First Solar (NASDAQ:FSLR) Given “Outperform” Rating at Oppenheimer

First Solar (NASDAQ:FSLR)‘s stock had its “outperform” rating reiterated by equities researchers at Oppenheimer in a research report issued on Wednesday, Benzinga reports. They currently have a $269.00 target price on the solar cell manufacturer’s stock. Oppenheimer’s target price would suggest a potential upside of 50.67% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Susquehanna reissued a “positive” rating and issued a $258.00 target price on shares of First Solar in a research report on Friday, April 5th. Royal Bank of Canada reissued an “outperform” rating and issued a $195.00 target price on shares of First Solar in a research note on Wednesday, February 28th. DZ Bank initiated coverage on First Solar in a report on Wednesday. They set a “buy” rating and a $205.00 price target on the stock. Bank of America upped their price target on First Solar from $187.00 to $194.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Finally, Wells Fargo & Company cut First Solar from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $215.00 to $187.00 in a research report on Monday, January 8th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has a consensus rating of “Moderate Buy” and a consensus price target of $227.04.

First Solar Stock Performance

NASDAQ FSLR traded up $5.45 on Wednesday, reaching $178.53. The stock had a trading volume of 2,645,306 shares, compared to its average volume of 2,073,319. The firm has a fifty day moving average of $159.59 and a two-hundred day moving average of $155.77. The company has a market cap of $19.11 billion, a P/E ratio of 22.98, a price-to-earnings-growth ratio of 0.30 and a beta of 1.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 3.55 and a quick ratio of 2.92. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.19 by $0.06. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The company had revenue of $1.16 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. The business’s quarterly revenue was up 15.5% on a year-over-year basis. On average, equities research analysts anticipate that First Solar will post 13.55 EPS for the current year.

Insider Buying and Selling at First Solar

In other news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $155.55, for a total transaction of $2,592,551.85. Following the completion of the transaction, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kuntal Kumar Verma sold 787 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $160.00, for a total transaction of $125,920.00. Following the completion of the sale, the insider now directly owns 4,920 shares of the company’s stock, valued at approximately $787,200. The disclosure for this sale can be found here. Insiders have sold 26,620 shares of company stock valued at $4,269,540 over the last quarter. Corporate insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

A number of large investors have recently modified their holdings of the company. Viking Fund Management LLC acquired a new position in First Solar during the 1st quarter valued at about $760,000. Brookstone Capital Management acquired a new position in shares of First Solar in the 1st quarter worth approximately $244,000. Davis Investment Partners LLC acquired a new position in shares of First Solar in the 1st quarter worth approximately $1,130,000. Beech Hill Advisors Inc. grew its stake in shares of First Solar by 20.6% in the 1st quarter. Beech Hill Advisors Inc. now owns 27,201 shares of the solar cell manufacturer’s stock worth $4,592,000 after purchasing an additional 4,654 shares during the last quarter. Finally, Gilman Hill Asset Management LLC grew its stake in shares of First Solar by 5.4% in the 1st quarter. Gilman Hill Asset Management LLC now owns 1,950 shares of the solar cell manufacturer’s stock worth $329,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds 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.