First Solar (NASDAQ:FSLR) Price Target Increased to $240.00 by Analysts at JPMorgan Chase & Co.

First Solar (NASDAQ:FSLR) had its price target lifted by analysts at JPMorgan Chase & Co. from $237.00 to $240.00 in a research report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 37.42% from the stock’s previous close.

A number of other equities analysts also recently commented on FSLR. Susquehanna restated a “positive” rating and set a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Janney Montgomery Scott started coverage on First Solar in a research note on Friday, April 12th. They set a “buy” rating and a $236.00 target price for the company. Morgan Stanley raised their price target on First Solar from $245.00 to $248.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI raised First Solar from an “in-line” rating to an “outperform” rating and set a $227.00 price target for the company in a research note on Tuesday, April 23rd. Finally, Wells Fargo & Company upgraded shares of First Solar from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, First Solar presently has an average rating of “Moderate Buy” and an average price target of $237.20.

First Solar Trading Down 1.6 %

NASDAQ FSLR traded down $2.93 during trading hours on Thursday, reaching $174.65. The company had a trading volume of 1,897,647 shares, compared to its average volume of 2,060,424. The company has a current ratio of 3.55, a quick ratio of 2.92 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $18.69 billion, a P/E ratio of 22.65, a price-to-earnings-growth ratio of 0.30 and a beta of 1.37. First Solar has a 1-year low of $129.21 and a 1-year high of $232.00. The stock has a 50-day moving average of $164.89 and a 200 day moving average of $157.84.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. The business had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. First Solar had a return on equity of 13.80% and a net margin of 25.03%. The business’s revenue for the quarter was up 44.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. As a group, research analysts anticipate that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Activity

In other news, Director R Craig Kennedy sold 1,500 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the completion of the transaction, the director now owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other First Solar news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $157.76, for a total value of $236,640.00. Following the transaction, the director now directly owns 15,641 shares of the company’s stock, valued at $2,467,524.16. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $155.55, for a total value of $2,592,551.85. Following the transaction, the insider now directly owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,620 shares of company stock worth $4,269,540. Corporate insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several large investors have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar in the first quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter valued at $29,000. Baystate Wealth Management LLC purchased a new stake in First Solar during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new position in shares of First Solar during the 3rd quarter valued at about $30,000. Hedge funds and other institutional investors own 92.08% of the company’s stock.

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.