First Solar (NASDAQ:FSLR) Given New $271.00 Price Target at Oppenheimer

First Solar (NASDAQ:FSLR) had its target price lifted by Oppenheimer from $269.00 to $271.00 in a research report released on Thursday morning, Benzinga reports. The firm currently has an outperform rating on the solar cell manufacturer’s stock.

A number of other research firms have also weighed in on FSLR. Susquehanna reissued a positive rating and issued a $258.00 target price on shares of First Solar in a research note on Friday, April 5th. Morgan Stanley boosted their price objective on First Solar from $245.00 to $248.00 and gave the company an overweight rating in a research report on Thursday. Evercore ISI upgraded shares of First Solar from an in-line rating to an outperform rating and set a $227.00 target price on the stock in a report on Tuesday, April 23rd. Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and upped their price target for the company from $187.00 to $250.00 in a report on Friday, April 19th. Finally, Barclays increased their price target on shares of First Solar from $224.00 to $227.00 and gave the company an overweight rating in a research report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, First Solar presently has a consensus rating of Moderate Buy and an average price target of $238.16.

First Solar Price Performance

FSLR traded up $11.04 during midday 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 1 year low of $129.21 and a 1 year high of $232.00. The company has a debt-to-equity ratio of 0.06, a quick ratio of 2.92 and a current ratio of 2.41. The business has a fifty day moving average of $166.57 and a 200 day moving average of $158.28. The company has a market cap of $20.50 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.31 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last released its earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 EPS for the quarter, beating the consensus estimate of $1.90 by $0.30. The company had revenue of $794.10 million for the quarter, compared to analyst estimates of $718.19 million. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm’s quarterly revenue was up 44.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.40 EPS. As a group, equities analysts forecast that First Solar will post 13.55 earnings per share for the current fiscal year.

Insider Transactions at First Solar

In related news, CTO Markus Gloeckler sold 1,937 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the transaction, the chief technology officer now owns 12,536 shares in the company, valued at approximately $2,193,800. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Georges Antoun sold 2,400 shares of the business’s stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $176.00, for a total value of $422,400.00. Following the completion of the transaction, the insider now owns 37,412 shares in the company, valued at $6,584,512. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Markus Gloeckler sold 1,937 shares of the stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $175.00, for a total value of $338,975.00. Following the sale, the chief technology officer now directly owns 12,536 shares in the company, valued at $2,193,800. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,620 shares of company stock valued at $4,269,540. Insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in First Solar during the 4th quarter valued at $27,000. Estabrook Capital Management bought a new position in shares of First Solar during the 3rd quarter valued at $29,000. Baystate Wealth Management LLC purchased a new position in shares of First Solar in the 4th quarter worth $29,000. Finally, Headinvest LLC bought a new stake in shares of First Solar in the third quarter worth $30,000. 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.