First Solar (NASDAQ:FSLR) PT Raised to $227.00 at Barclays

First Solar (NASDAQ:FSLR) had its price target raised by Barclays from $224.00 to $227.00 in a report published on Friday, Benzinga reports. They currently have an overweight rating on the solar cell manufacturer’s stock.

A number of other brokerages also recently weighed in on FSLR. Wells Fargo & Company raised shares of First Solar from an equal weight rating to an overweight rating and lifted their target price for the stock from $187.00 to $250.00 in a research note on Friday. Roth Mkm reaffirmed a buy rating and issued a $230.00 price target on shares of First Solar in a research note on Thursday. Mizuho lifted their price target on shares of First Solar from $188.00 to $196.00 and gave the company a buy rating in a research note on Wednesday, January 3rd. DZ Bank started coverage on shares of First Solar in a research note on Wednesday. They issued a buy rating and a $205.00 price target for the company. Finally, Susquehanna reaffirmed a positive rating and issued a $258.00 price target on shares of First Solar in a research note on Friday, April 5th. Three analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $229.68.

First Solar Price Performance

Shares of NASDAQ FSLR opened at $175.04 on Friday. First Solar has a twelve month low of $129.21 and a twelve month high of $232.00. The firm has a fifty day simple moving average of $161.34 and a 200 day simple moving average of $156.18. The company has a market capitalization of $18.74 billion, a PE ratio of 22.61, a P/E/G ratio of 0.30 and a beta of 1.41. The company has a quick ratio of 2.92, a current ratio of 3.55 and a debt-to-equity ratio of 0.07.

First Solar (NASDAQ:FSLR) last announced its earnings results on Tuesday, February 27th. The solar cell manufacturer reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.19 by $0.06. First Solar had a net margin of 25.03% and a return on equity of 13.80%. The business had revenue of $1.16 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned ($0.07) earnings per share. First Solar’s quarterly revenue was up 15.5% on a year-over-year basis. On average, sell-side analysts forecast that First Solar will post 13.55 EPS for the current year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total transaction of $338,975.00. Following the transaction, the chief technology officer now directly owns 12,536 shares in the company, valued at $2,193,800. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director R Craig Kennedy sold 1,500 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $157.76, for a total transaction of $236,640.00. Following the transaction, the director now directly owns 15,641 shares in the company, valued at $2,467,524.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the business’s stock in a transaction dated Thursday, April 4th. The stock was sold at an average price of $175.00, for a total transaction of $338,975.00. Following the transaction, the chief technology officer now owns 12,536 shares in the company, valued at $2,193,800. 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 three months. Corporate insiders own 0.58% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar in the first quarter valued at about $25,000. First Pacific Financial purchased a new position in First Solar in the third quarter valued at about $27,000. University of Texas Texas AM Investment Managment Co. purchased a new position in First Solar in the fourth quarter valued at about $27,000. Estabrook Capital Management purchased a new position in First Solar in the third quarter valued at about $29,000. Finally, Baystate Wealth Management LLC purchased a new position in First Solar in the fourth quarter valued at about $29,000. 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.