First Solar (NASDAQ:FSLR) Price Target Increased to $268.00 by Analysts at The Goldman Sachs Group

First Solar (NASDAQ:FSLR) had its price objective raised by stock analysts at The Goldman Sachs Group from $265.00 to $268.00 in a report released on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. The Goldman Sachs Group’s price objective points to a potential upside of 39.91% from the stock’s current price.

A number of other research firms have also weighed in on FSLR. DZ Bank initiated coverage on shares of First Solar in a report on Wednesday, April 17th. They set a “buy” rating and a $205.00 target price for the company. Barclays boosted their target price on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research note on Friday, April 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $269.00 price target on shares of First Solar in a research note on Wednesday, April 17th. Susquehanna reissued a “positive” rating and set a $258.00 price objective on shares of First Solar in a research report on Friday, April 5th. Finally, Janney Montgomery Scott assumed coverage on shares of First Solar in a research report on Friday, April 12th. They issued a “buy” rating and a $236.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Trading Up 6.1 %

FSLR stock traded up $11.04 during trading on Thursday, hitting $191.55. 3,008,268 shares of the company traded hands, compared to its average volume of 2,074,836. The company has a 50-day moving average of $166.57 and a 200-day moving average of $158.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. First Solar has a 1 year low of $129.21 and a 1 year high of $232.00. The firm has a market capitalization of $20.50 billion, a PE ratio of 20.08, a P/E/G ratio of 0.31 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its quarterly earnings data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating analysts’ consensus estimates of $1.90 by $0.30. First Solar had a return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the firm posted $0.40 earnings per share. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. Analysts predict that First Solar will post 13.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other First Solar news, insider Georges Antoun sold 16,667 shares of the business’s stock in a transaction 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 sale, the insider now owns 42,041 shares in the company, valued at approximately $6,539,477.55. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Kuntal Kumar Verma sold 250 shares of the company’s stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total transaction of $37,085.00. Following the sale, the insider now directly owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Georges Antoun sold 16,667 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 42,041 shares in the company, valued at $6,539,477.55. The disclosure for this sale can be found here. Insiders have sold a total of 26,620 shares of company stock worth $4,269,540 in the last 90 days. 0.58% of the stock is currently owned by corporate insiders.

Institutional Trading of First Solar

Hedge funds have recently made changes to their positions in the business. Dixon Mitchell Investment Counsel Inc. bought a new position in First Solar during the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the 4th quarter worth about $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the third quarter valued at approximately $29,000. Baystate Wealth Management LLC bought a new position in shares of First Solar during the fourth quarter valued at approximately $29,000. Finally, Headinvest LLC bought a new position in shares of First Solar during the third quarter valued at approximately $30,000. 92.08% of the stock is currently owned by hedge funds and other 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.