Mizuho Boosts First Solar (NASDAQ:FSLR) Price Target to $209.00

First Solar (NASDAQ:FSLR) had its target price increased by Mizuho from $196.00 to $209.00 in a research report released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

A number of other equities analysts have also weighed in on FSLR. Barclays upped their target price on shares of First Solar from $224.00 to $227.00 and gave the stock an overweight rating in a research report on Friday, April 19th. Bank of America raised their price objective on First Solar from $187.00 to $194.00 and gave the company a buy rating in a research report on Wednesday, April 10th. Wells Fargo & Company raised First Solar from an equal weight rating to an overweight rating and increased their price target for the company from $187.00 to $250.00 in a research note on Friday, April 19th. Susquehanna restated a positive rating and set a $258.00 price target on shares of First Solar in a report on Friday, April 5th. Finally, Janney Montgomery Scott initiated coverage on First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 target price for the company. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $238.16.

First Solar Price Performance

First Solar stock traded up $11.04 during mid-day trading on Thursday, hitting $191.55. The stock had a trading volume of 3,008,268 shares, compared to its average volume of 2,074,836. First Solar has a one year low of $129.21 and a one year high of $232.00. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $20.50 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.33 and a beta of 1.37. The firm’s 50 day moving average is $166.57 and its 200 day moving average is $158.28.

First Solar (NASDAQ:FSLR) last released 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 return on equity of 16.24% and a net margin of 28.75%. The firm had revenue of $794.10 million during the quarter, compared to analyst estimates of $718.19 million. During the same quarter in the prior year, the company posted $0.40 earnings per share. The business’s quarterly revenue was up 44.8% compared to the same quarter last year. On average, sell-side analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the transaction, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Kuntal Kumar Verma sold 250 shares of the stock in a transaction on Monday, March 18th. The stock was sold at an average price of $148.34, for a total transaction of $37,085.00. Following the completion of the sale, the insider now owns 5,170 shares in the company, valued at approximately $766,917.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Georges Antoun sold 2,400 shares of the stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the sale, the insider now owns 37,412 shares of the company’s stock, valued at $6,584,512. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,620 shares of company stock worth $4,269,540. 0.58% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On First Solar

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC raised its position in First Solar by 15.4% during the third quarter. Commonwealth Equity Services LLC now owns 32,365 shares of the solar cell manufacturer’s stock valued at $5,230,000 after acquiring an additional 4,327 shares in the last quarter. Chevy Chase Trust Holdings LLC lifted its stake in shares of First Solar by 5.1% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 60,051 shares of the solar cell manufacturer’s stock valued at $9,704,000 after purchasing an additional 2,898 shares during the period. Xponance Inc. boosted its holdings in First Solar by 7.6% during the third quarter. Xponance Inc. now owns 14,868 shares of the solar cell manufacturer’s stock worth $2,403,000 after buying an additional 1,045 shares in the last quarter. Independent Advisor Alliance grew its position in First Solar by 46.7% during the third quarter. Independent Advisor Alliance now owns 1,686 shares of the solar cell manufacturer’s stock valued at $272,000 after buying an additional 537 shares during the period. Finally, Brown Advisory Inc. increased its holdings in First Solar by 78.4% in the third quarter. Brown Advisory Inc. now owns 2,507 shares of the solar cell manufacturer’s stock valued at $405,000 after buying an additional 1,102 shares in the last quarter. Hedge funds and other institutional investors own 92.08% of the company’s stock.

First Solar Company Profile

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.