First Solar (NASDAQ:FSLR) PT Raised to $252.00 at UBS Group

First Solar (NASDAQ:FSLR) had its price target upped by UBS Group from $250.00 to $252.00 in a report published on Thursday, Benzinga reports. The firm currently has a buy rating on the solar cell manufacturer’s stock.

FSLR has been the subject of several other research reports. Mizuho raised their target price on First Solar from $196.00 to $209.00 and gave the company a buy rating in a report on Thursday. Royal Bank of Canada reaffirmed an outperform rating and set a $195.00 target price on shares of First Solar in a research report on Wednesday, February 28th. Morgan Stanley raised their price target on shares of First Solar from $245.00 to $248.00 and gave the stock an overweight rating in a research report on Thursday. Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and upped their price objective for the company from $187.00 to $250.00 in a research report on Friday, April 19th. Finally, Barclays lifted their target price on First Solar from $224.00 to $227.00 and gave the stock an overweight rating in a research 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 company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average target price of $238.16.

First Solar Stock Performance

FSLR traded up $11.04 on Thursday, hitting $191.55. The company had a trading volume of 3,008,268 shares, compared to its average volume of 2,074,836. The stock has a market cap of $20.50 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 0.31 and a beta of 1.37. The company has a debt-to-equity ratio of 0.06, a current ratio of 2.41 and a quick ratio of 2.92. The company’s fifty day moving average price is $166.57 and its 200 day moving average price is $158.28. 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 data on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share for the quarter, topping analysts’ consensus estimates of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The business had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same period in the previous year, the company earned $0.40 earnings per share. First Solar’s revenue for the quarter was up 44.8% on a year-over-year basis. Equities analysts predict that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director R Craig Kennedy sold 1,500 shares of the stock in a transaction 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 owns 15,641 shares of the company’s stock, valued at approximately $2,467,524.16. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, insider Georges Antoun sold 16,667 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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 of the company’s stock, valued at approximately $6,539,477.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director R Craig Kennedy sold 1,500 shares of the firm’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 transaction of $236,640.00. Following the sale, the director now owns 15,641 shares in the company, valued at $2,467,524.16. 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 over the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of FSLR. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of First Solar during the 1st quarter worth approximately $25,000. University of Texas Texas AM Investment Managment Co. bought a new position in First Solar in the fourth quarter valued at $27,000. Estabrook Capital Management acquired a new stake in First Solar in the 3rd quarter valued at $29,000. Baystate Wealth Management LLC bought a new stake in First Solar during the 4th quarter worth about $29,000. Finally, Headinvest LLC acquired a new position in shares of First Solar during the 3rd quarter worth about $30,000. 92.08% of the stock is owned by institutional investors and hedge funds.

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.