First Solar, Inc. (NASDAQ:FSLR) Receives $277.25 Consensus PT from Analysts

First Solar, Inc. (NASDAQ:FSLR) has earned an average rating of “Moderate Buy” from the twenty-five brokerages that are currently covering the stock, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $277.25.

A number of analysts have issued reports on FSLR shares. Mizuho reiterated a “neutral” rating and set a $274.00 price target (up from $209.00) on shares of First Solar in a research note on Thursday, May 30th. William Blair started coverage on shares of First Solar in a research note on Thursday, August 29th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. raised their price target on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a research report on Tuesday, July 16th. Piper Sandler upped their price objective on First Solar from $219.00 to $250.00 and gave the stock an “overweight” rating in a research report on Monday, July 22nd. Finally, Clarkson Capital began coverage on First Solar in a report on Wednesday, August 14th. They issued a “buy” rating and a $270.00 target price for the company.

First Solar Stock Performance

NASDAQ:FSLR opened at $228.79 on Tuesday. First Solar has a fifty-two week low of $129.21 and a fifty-two week high of $306.77. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company has a 50 day moving average price of $221.07 and a 200 day moving average price of $210.14. The stock has a market capitalization of $24.49 billion, a P/E ratio of 23.98, a PEG ratio of 0.40 and a beta of 1.44.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, July 30th. The solar cell manufacturer reported $3.25 EPS for the quarter, topping the consensus estimate of $2.69 by $0.56. The business had revenue of $1.01 billion during the quarter, compared to analyst estimates of $939.71 million. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the business posted $1.85 earnings per share. Equities research analysts forecast that First Solar will post 13.6 EPS for the current year.

Insider Activity at First Solar

In other First Solar news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now owns 500 shares of the company’s stock, valued at $108,250. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Byron Michael Jeffers sold 1,766 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares in the company, valued at $108,250. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Patrick James Buehler sold 8,619 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The disclosure for this sale can be found here. Insiders sold a total of 12,506 shares of company stock valued at $2,827,217 over the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Trading of First Solar

Several institutional investors and hedge funds have recently added to or reduced their stakes in FSLR. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of First Solar in the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar in the 4th quarter valued at $27,000. Atlas Capital Advisors LLC increased its stake in First Solar by 411.1% in the 2nd quarter. Atlas Capital Advisors LLC now owns 138 shares of the solar cell manufacturer’s stock valued at $31,000 after buying an additional 111 shares during the period. Riverview Trust Co purchased a new position in First Solar during the 1st quarter worth $32,000. Finally, Summit Securities Group LLC acquired a new stake in shares of First Solar in the 2nd quarter worth $36,000. 92.08% of the stock is 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.