First Solar (NASDAQ:FSLR) PT Raised to $248.00 at Morgan Stanley

First Solar (NASDAQ:FSLR) had its target price hoisted by analysts at Morgan Stanley from $245.00 to $248.00 in a report issued on Thursday, Benzinga reports. The firm presently has an “overweight” rating on the solar cell manufacturer’s stock. Morgan Stanley’s target price points to a potential upside of 29.47% from the company’s previous close.

A number of other equities analysts have also recently commented on FSLR. Bank of America raised their target price on First Solar from $187.00 to $194.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. DZ Bank began coverage on shares of First Solar in a research note on Wednesday, April 17th. They issued a “buy” rating and a $205.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and set a $269.00 target price on shares of First Solar in a report on Wednesday, April 17th. Evercore ISI upgraded shares of 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, Barclays increased their price objective on First Solar from $224.00 to $227.00 and gave the company an “overweight” rating in a research note 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 company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $238.16.

First Solar Trading Up 6.1 %

Shares of FSLR traded up $11.04 during trading on Thursday, reaching $191.55. 3,008,268 shares of the company traded hands, compared to its average volume of 2,074,836. The stock has a 50-day simple moving average of $166.57 and a 200-day simple moving average of $158.28. The stock has a market cap of $20.50 billion, a PE ratio of 20.08, a price-to-earnings-growth ratio of 0.31 and a beta of 1.37. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The company has a quick ratio of 2.92, a current ratio of 2.41 and a debt-to-equity ratio of 0.06.

First Solar (NASDAQ:FSLR) last posted its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million during the quarter, compared to the consensus estimate of $718.19 million. During the same quarter last year, the firm earned $0.40 EPS. The firm’s revenue for the quarter was up 44.8% on a year-over-year basis. On average, analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insider Buying and Selling at First Solar

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

Institutional Investors Weigh In On First Solar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar in the 1st quarter valued at about $25,000. University of Texas Texas AM Investment Managment Co. acquired a new position in First Solar during the fourth quarter worth about $27,000. Estabrook Capital Management purchased a new position in First Solar in the third quarter valued at about $29,000. Baystate Wealth Management LLC acquired a new stake in shares of First Solar during the 4th quarter valued at approximately $29,000. Finally, Headinvest LLC purchased a new stake in shares of First Solar during the 3rd quarter worth approximately $30,000. Institutional investors and hedge funds 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.