First Solar (NASDAQ:FSLR) Given New $335.00 Price Target at Guggenheim

First Solar (NASDAQ:FSLR) had its target price cut by Guggenheim from $368.00 to $335.00 in a research report released on Wednesday, Benzinga reports. They currently have a buy rating on the solar cell manufacturer’s stock.

Several other brokerages have also recently issued reports on FSLR. Citigroup raised shares of First Solar from a “neutral” rating to a “buy” rating and increased their price target for the stock from $200.00 to $254.00 in a research report on Tuesday, October 22nd. Susquehanna reduced their target price on shares of First Solar from $280.00 to $252.00 and set a “positive” rating on the stock in a report on Wednesday. Jefferies Financial Group dropped their price target on shares of First Solar from $271.00 to $266.00 and set a “buy” rating for the company in a research note on Thursday, October 10th. Hsbc Global Res upgraded First Solar to a “strong-buy” rating in a report on Wednesday, October 9th. Finally, UBS Group boosted their target price on First Solar from $350.00 to $360.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.13.

First Solar Price Performance

First Solar stock opened at $204.94 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.65 and a current ratio of 2.14. The company has a market capitalization of $21.94 billion, a price-to-earnings ratio of 17.65, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. The company’s 50 day simple moving average is $221.68 and its 200-day simple moving average is $223.93. First Solar has a 1 year low of $129.21 and a 1 year high of $306.77.

First Solar (NASDAQ:FSLR) last released its quarterly earnings results on Tuesday, October 29th. The solar cell manufacturer reported $2.91 EPS for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.19). First Solar had a return on equity of 17.56% and a net margin of 32.41%. The firm had revenue of $887.70 million for the quarter, compared to analyst estimates of $1.07 billion. During the same quarter last year, the company earned $2.50 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts expect that First Solar will post 13.12 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares of the company’s stock, valued at approximately $769,896. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other First Solar news, CAO Byron Michael Jeffers sold 500 shares of First Solar stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $220.00, for a total value of $110,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total value of $1,913,418.00. Following the transaction, the insider now owns 3,468 shares in the company, valued at $769,896. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,885 shares of company stock valued at $2,405,757 over the last quarter. 0.58% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Massmutual Trust Co. FSB ADV grew its position in First Solar by 14.5% during the third quarter. Massmutual Trust Co. FSB ADV now owns 356 shares of the solar cell manufacturer’s stock worth $89,000 after buying an additional 45 shares during the period. Davis Investment Partners LLC increased its stake in First Solar by 0.6% in the 3rd quarter. Davis Investment Partners LLC now owns 7,698 shares of the solar cell manufacturer’s stock valued at $1,805,000 after purchasing an additional 46 shares in the last quarter. Oregon Public Employees Retirement Fund raised its holdings in First Solar by 0.5% during the second quarter. Oregon Public Employees Retirement Fund now owns 9,172 shares of the solar cell manufacturer’s stock worth $2,068,000 after purchasing an additional 49 shares during the last quarter. Cambridge Trust Co. boosted its position in First Solar by 1.6% during the first quarter. Cambridge Trust Co. now owns 3,232 shares of the solar cell manufacturer’s stock worth $546,000 after purchasing an additional 50 shares in the last quarter. Finally, Gilman Hill Asset Management LLC grew its holdings in First Solar by 2.8% in the third quarter. Gilman Hill Asset Management LLC now owns 1,825 shares of the solar cell manufacturer’s stock valued at $455,000 after purchasing an additional 50 shares during the last quarter. 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.