UBS Group Boosts First Solar (NASDAQ:FSLR) Price Target to $252.00

First Solar (NASDAQ:FSLR) had its price objective increased by UBS Group from $250.00 to $252.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the solar cell manufacturer’s stock.

Several other equities analysts have also recently issued reports on FSLR. Oppenheimer upped their price target on shares of First Solar from $269.00 to $271.00 and gave the company an outperform 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 price objective for the company in a research report on Tuesday, April 23rd. Janney Montgomery Scott assumed coverage on shares of First Solar in a research report on Friday, April 12th. They set a buy rating and a $236.00 price objective for the company. Mizuho raised their price target on shares of First Solar from $196.00 to $209.00 and gave the stock a buy rating in a report on Thursday. Finally, Wells Fargo & Company upgraded shares of First Solar from an equal weight rating to an overweight rating and raised their price target for the stock from $187.00 to $250.00 in a report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $238.16.

First Solar Price Performance

NASDAQ:FSLR traded up $11.04 on Thursday, hitting $191.55. The company had a trading volume of 3,008,268 shares, compared to its average volume of 2,074,836. The company has a current ratio of 2.41, a quick ratio of 2.92 and a debt-to-equity ratio of 0.06. First Solar has a 52 week low of $129.21 and a 52 week high of $232.00. The firm has a 50 day moving average of $166.57 and a two-hundred day moving average of $158.28. The stock has a market capitalization of $20.50 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.33 and a beta of 1.37.

First Solar (NASDAQ:FSLR) last announced its quarterly earnings results on Wednesday, May 1st. The solar cell manufacturer reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.90 by $0.30. First Solar had a net margin of 28.75% and a return on equity of 16.24%. The firm had revenue of $794.10 million during the quarter, compared to analysts’ expectations of $718.19 million. During the same period in the prior year, the company posted $0.40 EPS. The company’s revenue was up 44.8% on a year-over-year basis. On average, research analysts anticipate that First Solar will post 13.55 earnings per share for the current year.

Insiders Place Their Bets

In other First Solar news, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $148.34, for a total value of $37,085.00. Following the sale, the insider now owns 5,170 shares of the company’s stock, valued at $766,917.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other First Solar news, insider Georges Antoun sold 16,667 shares of First Solar stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $155.55, for a total value of $2,592,551.85. Following the sale, the insider now owns 42,041 shares of the company’s stock, valued at $6,539,477.55. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Kuntal Kumar Verma sold 250 shares of First Solar stock in a transaction dated 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 transaction, the insider now owns 5,170 shares of the company’s stock, valued at approximately $766,917.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 26,620 shares of company stock valued at $4,269,540. Company insiders own 0.58% of the company’s stock.

Hedge Funds Weigh In On First Solar

Hedge funds have recently bought and sold shares of the company. Dixon Mitchell Investment Counsel Inc. purchased a new position in First Solar during the first quarter valued at approximately $25,000. University of Texas Texas AM Investment Managment Co. purchased a new stake in shares of First Solar in the 4th quarter valued at $27,000. Baystate Wealth Management LLC purchased a new stake in shares of First Solar in the 4th quarter valued at $29,000. Estabrook Capital Management purchased a new stake in shares of First Solar in the 3rd quarter valued at $29,000. Finally, Riverview Trust Co purchased a new stake in shares of First Solar in the 1st quarter valued at $32,000. Hedge funds and other institutional investors 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.