First Solar (NASDAQ:FSLR) Price Target Cut to $280.00 by Analysts at Roth Mkm

First Solar (NASDAQ:FSLR) had its target price lowered by stock analysts at Roth Mkm from $320.00 to $280.00 in a report released on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the solar cell manufacturer’s stock. Roth Mkm’s price objective would suggest a potential upside of 36.97% from the company’s current price.

Several other research firms have also commented on FSLR. DZ Bank upgraded First Solar from a “hold” rating to a “buy” rating and set a $280.00 price target for the company in a research report on Thursday, August 1st. UBS Group boosted their target price on First Solar from $350.00 to $360.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Susquehanna raised their target price on shares of First Solar from $258.00 to $285.00 and gave the stock a “positive” rating in a report on Wednesday, July 3rd. JPMorgan Chase & Co. upped their price target on shares of First Solar from $262.00 to $282.00 and gave the company an “overweight” rating in a report on Tuesday, July 16th. Finally, Hsbc Global Res raised shares of First Solar to a “strong-buy” rating in a research note on Wednesday, October 9th. Four investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, First Solar has an average rating of “Moderate Buy” and an average price target of $283.84.

First Solar Price Performance

FSLR traded down $5.54 during trading on Tuesday, reaching $204.42. 1,104,858 shares of the company traded hands, compared to its average volume of 2,370,801. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.65 and a current ratio of 2.23. The company has a market cap of $21.88 billion, a P/E ratio of 21.43, a PEG ratio of 0.38 and a beta of 1.44. The firm has a fifty day simple moving average of $227.62 and a 200 day simple moving average of $222.26. First Solar has a 12-month low of $129.21 and a 12-month high of $306.77.

First Solar (NASDAQ:FSLR) last issued its quarterly earnings data on Tuesday, July 30th. The solar cell manufacturer reported $3.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.69 by $0.56. First Solar had a return on equity of 17.73% and a net margin of 31.98%. The business had revenue of $1.01 billion for the quarter, compared to analysts’ expectations of $939.71 million. During the same period in the prior year, the firm earned $1.85 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts forecast that First Solar will post 13.53 EPS for the current year.

Insider Activity

In related news, insider Patrick James Buehler sold 8,619 shares of the business’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the completion of the transaction, the insider now directly owns 3,468 shares in the company, valued at $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 available at this hyperlink. In related news, insider Patrick James Buehler sold 8,619 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $222.00, for a total transaction of $1,913,418.00. Following the sale, the insider now directly owns 3,468 shares of the company’s stock, valued at $769,896. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Byron Michael Jeffers sold 1,766 shares of First Solar stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $216.50, for a total transaction of $382,339.00. Following the transaction, the chief accounting officer now directly owns 500 shares of the company’s stock, valued at approximately $108,250. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,885 shares of company stock valued at $2,405,757 in the last ninety days. Insiders own 0.58% of the company’s stock.

Institutional Investors Weigh In On First Solar

Institutional investors have recently added to or reduced their stakes in the stock. V Square Quantitative Management LLC grew its position in shares of First Solar by 31.4% in the fourth quarter. V Square Quantitative Management LLC now owns 1,590 shares of the solar cell manufacturer’s stock valued at $274,000 after purchasing an additional 380 shares during the period. Fisher Asset Management LLC raised its holdings in shares of First Solar by 9.1% during the fourth quarter. Fisher Asset Management LLC now owns 39,269 shares of the solar cell manufacturer’s stock valued at $6,765,000 after acquiring an additional 3,264 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of First Solar by 0.9% in the fourth quarter. Vanguard Group Inc. now owns 12,151,817 shares of the solar cell manufacturer’s stock worth $2,093,515,000 after acquiring an additional 111,786 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of First Solar during the fourth quarter worth approximately $2,099,000. Finally, Symmetry Partners LLC purchased a new position in First Solar in the 1st quarter valued at $206,000. 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.